Victory Capital Management Inc. raised its holdings in The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 901.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 219,541 shares of the bank’s stock after acquiring an additional 197,627 shares during the period. Victory Capital Management Inc. owned approximately 0.39% of Bancorp worth $4,826,000 at the end of the most recent quarter.
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A number of other hedge funds also recently bought and sold shares of TBBK. Advisor Group Holdings Inc. raised its holdings in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after acquiring an additional 935 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Bancorp by 121.4% during the 1st quarter. JPMorgan Chase & Co. now owns 77,368 shares of the bank’s stock worth $2,192,000 after buying an additional 42,423 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Bancorp by 15.8% during the 1st quarter. Raymond James & Associates now owns 19,287 shares of the bank’s stock worth $546,000 after buying an additional 2,638 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Bancorp by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 542,380 shares of the bank’s stock worth $15,366,000 after buying an additional 12,020 shares during the last quarter. Finally, US Bancorp DE acquired a new stake in shares of Bancorp during the 1st quarter worth approximately $87,000. Institutional investors and hedge funds own 90.02% of the company’s stock.
Bancorp Stock Performance
NASDAQ:TBBK opened at $32.71 on Tuesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.91 and a current ratio of 0.99. The stock has a market capitalization of $1.83 billion, a P/E ratio of 14.35 and a beta of 1.45. The company has a 50 day moving average price of $29.32 and a 200 day moving average price of $26.41. The Bancorp, Inc. has a fifty-two week low of $16.59 and a fifty-two week high of $34.80.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TBBK. TheStreet upgraded shares of Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 15th. Piper Sandler raised their price target on shares of Bancorp to $32.00 in a report on Tuesday, November 1st. StockNews.com initiated coverage on shares of Bancorp in a report on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Raymond James initiated coverage on shares of Bancorp in a research report on Monday. They set an “outperform” rating and a $38.00 price objective for the company.
The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.
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