Bank of New York Mellon Corp Has $16.35 Million Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Bank of New York Mellon Corp reduced its position in The Bancorp, Inc. (NASDAQ:TBBK) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 309,368 shares of the bank’s stock after selling 13,722 shares during the period. Bank of New York Mellon Corp owned 0.65% of Bancorp worth $16,347,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after buying an additional 456 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of Bancorp in the 4th quarter valued at $139,000. Ethic Inc. acquired a new stake in shares of Bancorp in the 4th quarter valued at $209,000. Wedbush Securities Inc. acquired a new stake in shares of Bancorp in the 4th quarter valued at $213,000. Finally, Yorktown Management & Research Co Inc acquired a new stake in shares of Bancorp in the 1st quarter valued at $227,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Down 1.9%

NASDAQ:TBBK opened at $67.62 on Friday. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $69.88. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 15.26 and a beta of 1.25. The stock has a 50-day moving average price of $55.53 and a two-hundred day moving average price of $53.82.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share 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 27.31% and a net margin of 28.45%. As a group, equities analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on TBBK shares. Oppenheimer reaffirmed an “outperform” rating on shares of Bancorp in a research note on Friday. Jefferies Financial Group raised Bancorp to a “buy” rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a research note on Friday, July 11th. Wall Street Zen cut Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Finally, Barclays reaffirmed a “buy” rating on shares of Bancorp in a research note on Monday, July 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bancorp has an average rating of “Moderate Buy” and an average price target of $62.00.

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.