Kendall Capital Management Purchases 2,980 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Kendall Capital Management increased its position in The Bancorp, Inc. (NASDAQ:TBBK) by 25.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,520 shares of the bank’s stock after buying an additional 2,980 shares during the quarter. Kendall Capital Management’s holdings in Bancorp were worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares during the period. Franklin Resources Inc. increased its stake in Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after purchasing an additional 144,867 shares during the period. Lisanti Capital Growth LLC purchased a new position in Bancorp in the 3rd quarter worth approximately $6,100,000. Edgestream Partners L.P. purchased a new position in Bancorp in the 4th quarter worth approximately $4,120,000. Finally, Segall Bryant & Hamill LLC increased its stake in Bancorp by 42.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 238,120 shares of the bank’s stock worth $12,739,000 after purchasing an additional 70,768 shares during the period. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday. Keefe, Bruyette & Woods boosted their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd.

Bancorp Price Performance

TBBK opened at $51.58 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The Bancorp, Inc. has a 52-week low of $29.92 and a 52-week high of $65.84. The stock has a market capitalization of $2.48 billion, a PE ratio of 12.00 and a beta of 1.59. The stock’s 50 day moving average price is $56.19 and its 200-day moving average price is $54.55.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. On average, equities research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Bancorp Company Profile

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.