Wellington Management Group LLP Lowers Position in The Bancorp, Inc. (NASDAQ:TBBK)

Wellington Management Group LLP trimmed its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,727,911 shares of the bank’s stock after selling 256,665 shares during the period. Wellington Management Group LLP’s holdings in Bancorp were worth $90,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in shares of Bancorp by 191.8% during the 4th 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. R Squared Ltd bought a new position in Bancorp during the fourth quarter valued at approximately $45,000. Point72 DIFC Ltd bought a new position in Bancorp during the third quarter valued at approximately $54,000. National Bank of Canada FI bought a new stake in Bancorp in the 3rd quarter worth approximately $77,000. Finally, Parkside Financial Bank & Trust increased its stake in Bancorp by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock worth $79,000 after acquiring an additional 424 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on TBBK shares. Piper Sandler raised their target price on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note 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 boosted their price objective on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd.

Bancorp Trading Down 10.3 %

Shares of TBBK opened at $43.92 on Friday. The company’s fifty day simple moving average is $55.73 and its 200-day simple moving average is $54.81. The company has a market cap of $2.11 billion, a P/E ratio of 10.21 and a beta of 1.59. 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 Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $65.84.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a net margin of 30.97% and a return on equity of 27.33%. As a group, analysts expect 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.