Legato Capital Management LLC Reduces Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Legato Capital Management LLC decreased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 77.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,015 shares of the bank’s stock after selling 24,396 shares during the quarter. Legato Capital Management LLC’s holdings in Bancorp were worth $369,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its position in Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock worth $34,000 after buying an additional 263 shares during the period. R Squared Ltd purchased a new stake in Bancorp in the 4th quarter valued at $45,000. Point72 DIFC Ltd acquired a new stake in Bancorp during the 3rd quarter worth $54,000. Advisors Asset Management Inc. grew its position in Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares during the last quarter. Finally, National Bank of Canada FI acquired a new position in Bancorp in the third quarter valued at $77,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $60.49 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $55.85 and a 200 day moving average price of $53.66. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $65.84. The company has a market cap of $2.90 billion, a P/E ratio of 14.07 and a beta of 1.49.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analysts Set New Price Targets

TBBK has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their target price on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Raymond James reaffirmed an “outperform” rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Piper Sandler boosted their target price on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a report on Sunday, January 12th.

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.