Thrivent Financial for Lutherans Has $1.63 Million Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Thrivent Financial for Lutherans cut its stake in The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 57,423 shares of the bank’s stock after selling 1,041 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Bancorp were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Legato Capital Management LLC acquired a new position in Bancorp during the 4th quarter worth approximately $843,000. Great West Life Assurance Co. Can acquired a new position in shares of Bancorp during the 3rd quarter worth about $1,584,000. SummerHaven Investment Management LLC boosted its stake in shares of Bancorp by 1.0% during the 4th quarter. SummerHaven Investment Management LLC now owns 38,084 shares of the bank’s stock worth $1,081,000 after buying an additional 380 shares during the last quarter. Emerald Advisers LLC acquired a new position in shares of Bancorp during the 4th quarter worth about $57,000. Finally, ProShare Advisors LLC bought a new position in shares of Bancorp in the fourth quarter valued at $246,000. 90.02% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Daniela Mielke purchased 2,300 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $27.14 per share, with a total value of $62,422.00. Following the acquisition, the director now owns 20,830 shares in the company, valued at approximately $565,326.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders bought 4,050 shares of company stock valued at $121,530. Insiders own 4.30% of the company’s stock.

Bancorp Stock Performance

NASDAQ:TBBK opened at $31.25 on Friday. The stock has a market cap of $1.71 billion, a P/E ratio of 11.75 and a beta of 1.46. The stock has a 50 day simple moving average of $28.67 and a 200 day simple moving average of $30.25. The company has a current ratio of 0.99, a quick ratio of 0.92 and a debt-to-equity ratio of 0.17. The Bancorp, Inc. has a 1-year low of $16.59 and a 1-year high of $37.58.

Analysts Set New Price Targets

TBBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $43.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, April 6th. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday. Raymond James initiated coverage on Bancorp in a research report on Monday, January 30th. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Piper Sandler cut their target price on shares of Bancorp from $43.00 to $39.00 in a research note on Thursday, April 6th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

Bancorp Company Profile

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The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.