The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC grew its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 11.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,450 shares of the bank’s stock after purchasing an additional 2,912 shares during the period. Cerity Partners LLC owned approximately 0.06% of Bancorp worth $1,450,000 as of its most recent SEC filing.

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

Bancorp stock opened at $69.23 on Tuesday. The firm’s 50 day moving average price is $55.53 and its two-hundred day moving average price is $53.84. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of 15.63 and a beta of 1.25. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $69.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.91.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays reaffirmed a “buy” rating on shares of Bancorp in a report on Monday, July 7th. Morgan Stanley reissued an “overweight” rating and set a $52.00 target price 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 issued a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Finally, Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.00.

About Bancorp

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.