Cerity Partners LLC Boosts Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Cerity Partners LLC grew its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 11.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,450 shares of the bank’s stock after buying an additional 2,912 shares during the quarter. Cerity Partners LLC owned about 0.06% of Bancorp worth $1,450,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in TBBK. Proficio Capital Partners LLC purchased a new stake in Bancorp during the 4th quarter worth $651,000. Raymond James Financial Inc. bought a new position in shares of Bancorp during the fourth quarter valued at approximately $3,474,000. Cibc World Markets Corp acquired a new stake in Bancorp in the fourth quarter worth $231,000. Teacher Retirement System of Texas raised its holdings in shares of Bancorp by 64.6% during the fourth quarter. Teacher Retirement System of Texas now owns 7,920 shares of the bank’s stock valued at $417,000 after buying an additional 3,108 shares during the last quarter. Finally, Quantbot Technologies LP increased its stake in Bancorp by 139.5% during the 4th quarter. Quantbot Technologies LP now owns 37,510 shares of the bank’s stock valued at $1,974,000 after buying an additional 21,850 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Up 2.4%

Shares of Bancorp stock opened at $69.23 on Tuesday. The firm has a market cap of $3.23 billion, a PE ratio of 15.20 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a fifty day moving average price of $55.53 and a 200-day moving average price of $53.84. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $69.90.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The firm had revenue of $175.39 million for the quarter, compared to analysts’ expectations of $108.88 million. Bancorp had a net margin of 28.45% and a return on equity of 27.31%. Equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TBBK shares. Barclays reiterated a “buy” rating on shares of Bancorp in a report on Monday, July 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $65.00 price target on shares of Bancorp in a research note on Friday, July 11th. Oppenheimer restated an “outperform” rating on shares of Bancorp in a research report on Friday. Jefferies Financial Group upgraded shares of Bancorp to a “buy” rating in a research report on Monday, July 7th. Finally, Raymond James Financial raised Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Bancorp Company 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.