Loomis Sayles & Co. L P Buys 180,586 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Loomis Sayles & Co. L P boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 715,952 shares of the bank’s stock after purchasing an additional 180,586 shares during the quarter. Loomis Sayles & Co. L P owned about 1.49% of Bancorp worth $37,681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arcus Capital Partners LLC lifted its stake in shares of Bancorp by 5.0% in the fourth quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after buying an additional 315 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Bancorp by 12.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank’s stock worth $199,000 after acquiring an additional 420 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in Bancorp by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock valued at $79,000 after acquiring an additional 424 shares during the period. Smartleaf Asset Management LLC grew its position in shares of Bancorp by 191.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock valued at $40,000 after purchasing an additional 489 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of Bancorp by 11.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 5,403 shares of the bank’s stock worth $284,000 after purchasing an additional 539 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased 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. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Piper Sandler upped their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, December 23rd. Finally, Raymond James restated an “outperform” rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

Bancorp Stock Performance

TBBK opened at $53.59 on Friday. The stock’s 50 day simple moving average is $56.27 and its 200-day simple moving average is $54.72. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The stock has a market cap of $2.58 billion, a PE ratio of 12.46 and a beta of 1.59. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $65.84.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Bancorp 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.