Ameriprise Financial Inc. Sells 5,988 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Ameriprise Financial Inc. trimmed its position in The Bancorp, Inc. (NASDAQ:TBBK) by 4.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 130,369 shares of the bank’s stock after selling 5,988 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Bancorp worth $6,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Arete Wealth Advisors LLC raised its holdings in Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock valued at $508,000 after acquiring an additional 242 shares during the period. Arcus Capital Partners LLC increased its holdings in shares of Bancorp by 5.0% during the fourth quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock worth $347,000 after purchasing an additional 315 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Bancorp by 3.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock worth $635,000 after purchasing an additional 408 shares during the period. Bank of Montreal Can increased its holdings in shares of Bancorp by 8.1% during the fourth quarter. Bank of Montreal Can now owns 5,565 shares of the bank’s stock worth $293,000 after purchasing an additional 418 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Bancorp by 12.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,781 shares of the bank’s stock worth $199,000 after purchasing an additional 420 shares during the period. 96.22% of the stock is owned by institutional investors.

Bancorp Stock Performance

NASDAQ TBBK opened at $51.78 on Friday. 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 firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.04 and a beta of 1.31. The firm’s 50 day simple moving average is $50.03 and its 200 day simple moving average is $53.74. The Bancorp, Inc. has a 1 year low of $31.34 and a 1 year high of $65.84.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $175.39 million for the quarter, compared to analyst estimates of $108.88 million. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TBBK shares. Raymond James reaffirmed an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Wall Street Zen cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Bancorp from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Monday, April 28th.

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.