Kennedy Capital Management LLC Increases Stock Position in The Bancorp, Inc. $TBBK

Kennedy Capital Management LLC increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 57.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 281,256 shares of the bank’s stock after purchasing an additional 102,534 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.61% of Bancorp worth $21,063,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC boosted its stake in shares of Bancorp by 213.6% in the 3rd quarter. Rothschild Investment LLC now owns 345 shares of the bank’s stock worth $26,000 after buying an additional 235 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after acquiring an additional 176 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Bancorp in the second quarter worth $53,000. Covestor Ltd boosted its position in Bancorp by 3,525.0% in the third quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock worth $76,000 after purchasing an additional 987 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Bancorp by 19.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock valued at $119,000 after purchasing an additional 261 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK stock traded up $0.53 on Friday, hitting $53.83. 42,349 shares of the stock were exchanged, compared to its average volume of 650,050. The firm’s 50 day moving average is $61.87 and its two-hundred day moving average is $67.92. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The firm has a market capitalization of $2.27 billion, a PE ratio of 10.94 and a beta of 1.31. The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.18). The firm had revenue of $132.21 million during the quarter, compared to the consensus estimate of $101.10 million. Bancorp had a net margin of 25.94% and a return on equity of 28.91%. Sell-side analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Activity at Bancorp

In other Bancorp news, CFO Dominic C. Canuso acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was bought at an average cost of $60.54 per share, with a total value of $121,080.00. Following the acquisition, the chief financial officer owned 16,169 shares in the company, valued at approximately $978,871.26. This represents a 14.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mark E. Tryniski acquired 5,000 shares of Bancorp stock in a transaction that occurred on Wednesday, February 4th. The stock was acquired at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the purchase, the director directly owned 18,966 shares in the company, valued at $1,142,322.18. This represents a 35.80% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 9,080 shares of company stock worth $548,933. 5.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TBBK. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Piper Sandler started coverage on shares of Bancorp in a research report on Thursday. They set an “overweight” rating and a $66.00 price target for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Zacks Research lowered shares of Bancorp from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.