Cynosure Group LLC Cuts Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Cynosure Group LLC decreased its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 16.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,739 shares of the bank’s stock after selling 1,123 shares during the period. Cynosure Group LLC’s holdings in Bancorp were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC increased its holdings in Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after acquiring an additional 489 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Bancorp in the fourth quarter valued at about $45,000. Point72 DIFC Ltd purchased a new stake in shares of Bancorp during the third quarter worth about $54,000. National Bank of Canada FI acquired a new position in shares of Bancorp during the 3rd quarter worth about $77,000. Finally, Parkside Financial Bank & Trust lifted its stake in Bancorp by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock valued at $79,000 after buying an additional 424 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Price Performance

NASDAQ:TBBK opened at $54.76 on Thursday. The stock has a 50 day moving average price of $56.09 and a 200 day moving average price of $54.91. The stock has a market cap of $2.63 billion, a PE ratio of 12.73 and a beta of 1.59. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The Bancorp, Inc. has a one year low of $29.92 and a one year high of $65.84.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Equities research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $67.00 price objective (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Piper Sandler lifted their target price on shares of Bancorp from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Finally, StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th.

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.