Dark Forest Capital Management LP Has $404,000 Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Dark Forest Capital Management LP lifted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 9.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,696 shares of the bank’s stock after acquiring an additional 941 shares during the period. Dark Forest Capital Management LP’s holdings in Bancorp were worth $404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TBBK. Franklin Resources Inc. boosted its stake in Bancorp by 28.2% in the 4th quarter. Franklin Resources Inc. now owns 33,608 shares of the bank’s stock valued at $1,296,000 after purchasing an additional 7,389 shares during the period. US Bancorp DE increased its stake in Bancorp by 691.0% in the fourth quarter. US Bancorp DE now owns 25,717 shares of the bank’s stock valued at $992,000 after purchasing an additional 22,466 shares in the last quarter. Alberta Investment Management Corp raised its stake in Bancorp by 21.9% during the 4th quarter. Alberta Investment Management Corp now owns 66,551 shares of the bank’s stock worth $2,566,000 after buying an additional 11,939 shares during the period. Campbell & CO Investment Adviser LLC bought a new position in Bancorp in the fourth quarter worth approximately $1,304,000. Finally, Rafferty Asset Management LLC grew its stake in Bancorp by 63.6% in the fourth quarter. Rafferty Asset Management LLC now owns 73,827 shares of the bank’s stock valued at $2,847,000 after acquiring an additional 28,699 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Trading Up 1.5 %

Shares of Bancorp stock opened at $52.59 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $49.90 and a 200 day simple moving average of $39.96. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $54.97. The company has a market capitalization of $2.57 billion, a P/E ratio of 14.29 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.03). The firm had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Bancorp had a return on equity of 26.81% and a net margin of 31.52%. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a report on Monday, July 29th. Piper Sandler lifted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Finally, StockNews.com downgraded shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th.

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.