SummerHaven Investment Management LLC Has $1.02 Million Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

SummerHaven Investment Management LLC increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,246 shares of the bank’s stock after buying an additional 236 shares during the quarter. Bancorp comprises about 0.7% of SummerHaven Investment Management LLC’s portfolio, making the stock its 18th biggest position. SummerHaven Investment Management LLC’s holdings in Bancorp were worth $1,017,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of Bancorp by 35.9% in the 4th quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank’s stock worth $125,971,000 after purchasing an additional 631,744 shares in the last quarter. Invesco Ltd. raised its holdings in Bancorp by 26.2% during the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank’s stock worth $118,251,000 after buying an additional 466,795 shares during the last quarter. Nantahala Capital Management LLC lifted its stake in shares of Bancorp by 65.7% in the fourth quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank’s stock valued at $51,286,000 after buying an additional 386,295 shares in the last quarter. Emerald Advisers LLC bought a new position in shares of Bancorp in the fourth quarter valued at $17,692,000. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Bancorp by 599.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank’s stock valued at $19,390,000 after buying an additional 315,772 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TBBK. Wall Street Zen lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods lowered Bancorp from an “outperform” rating to a “market perform” rating and set a $65.00 price target for the company. in a research report on Thursday.

Bancorp Stock Performance

TBBK stock opened at $53.73 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.51 billion, a PE ratio of 12.50 and a beta of 1.24. The business has a 50 day moving average of $49.62 and a 200-day moving average of $53.38. The Bancorp, Inc. has a 12-month low of $32.50 and a 12-month high of $65.84.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Bancorp had a net margin of 30.97% and a return on equity of 27.33%. The business had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. As a group, sell-side analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

About Bancorp

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.