Allspring Global Investments Holdings LLC Raises Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Allspring Global Investments Holdings LLC increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBKGet Rating) by 5.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,963 shares of the bank’s stock after purchasing an additional 787 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Bancorp were worth $350,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Investment Counsel Inc lifted its holdings in shares of Bancorp by 0.8% during the third quarter. Capital Investment Counsel Inc now owns 49,905 shares of the bank’s stock worth $1,097,000 after purchasing an additional 400 shares during the period. Engineers Gate Manager LP lifted its holdings in shares of Bancorp by 1.0% during the first quarter. Engineers Gate Manager LP now owns 57,126 shares of the bank’s stock worth $1,618,000 after purchasing an additional 543 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Bancorp by 1.1% during the first quarter. Yousif Capital Management LLC now owns 56,683 shares of the bank’s stock worth $1,606,000 after purchasing an additional 605 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Bancorp by 35.4% during the first quarter. Federated Hermes Inc. now owns 2,522 shares of the bank’s stock worth $71,000 after purchasing an additional 660 shares during the period. Finally, Advisor Group Holdings Inc. lifted its holdings in shares of Bancorp by 325.8% during the first quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after purchasing an additional 935 shares during the period. Institutional investors and hedge funds own 90.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TBBK. TheStreet raised Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, November 15th. StockNews.com initiated coverage on Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Piper Sandler boosted their price target on Bancorp to $32.00 in a report on Tuesday, November 1st.

Insider Activity

In other Bancorp news, Director Matthew Cohn acquired 18,040 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was acquired at an average cost of $28.00 per share, for a total transaction of $505,120.00. Following the completion of the transaction, the director now directly owns 39,798 shares of the company’s stock, valued at $1,114,344. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.30% of the company’s stock.

Bancorp Trading Down 0.8 %

Shares of NASDAQ:TBBK opened at $28.71 on Wednesday. The Bancorp, Inc. has a 12-month low of $16.59 and a 12-month high of $31.59. The company has a market capitalization of $1.61 billion, a PE ratio of 14.14 and a beta of 1.45. The business has a 50 day moving average of $29.22 and a two-hundred day moving average of $26.09. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.23.

Bancorp (NASDAQ:TBBKGet Rating) last announced its quarterly earnings results on Thursday, October 27th. The bank reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05). The company had revenue of $88.09 million during the quarter, compared to analyst estimates of $88.45 million. Bancorp had a net margin of 32.42% and a return on equity of 17.83%. As a group, analysts forecast that The Bancorp, Inc. will post 2.27 EPS for the current year.

Bancorp Company Profile

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The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, and commercial accounts; and prepaid and debit cards.

See Also

Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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