Geode Capital Management LLC Sells 32,858 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Geode Capital Management LLC lessened its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,329,810 shares of the bank’s stock after selling 32,858 shares during the quarter. Geode Capital Management LLC’s holdings in Bancorp were worth $70,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Franklin Resources Inc. boosted its holdings in Bancorp by 2.9% in the fourth quarter. Franklin Resources Inc. now owns 952,277 shares of the bank’s stock worth $50,118,000 after purchasing an additional 26,907 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Bancorp by 2.3% during the 4th quarter. Alliancebernstein L.P. now owns 59,914 shares of the bank’s stock valued at $3,153,000 after buying an additional 1,348 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Bancorp by 16.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 6,327 shares of the bank’s stock worth $333,000 after buying an additional 874 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Bancorp in the fourth quarter worth $139,000. Finally, Loomis Sayles & Co. L P increased its position in Bancorp by 33.7% during the fourth quarter. Loomis Sayles & Co. L P now owns 715,952 shares of the bank’s stock valued at $37,681,000 after acquiring an additional 180,586 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Bancorp Stock Performance

Shares of TBBK opened at $43.63 on Friday. The business has a 50-day simple moving average of $53.66 and a two-hundred day simple moving average of $54.38. 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 Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of 10.15 and a beta of 1.26.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler raised their target price on Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday, December 23rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Raymond James restated an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd.

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.