Raymond James Financial Inc. Invests $3.47 Million in The Bancorp, Inc. (NASDAQ:TBBK)

Raymond James Financial Inc. acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 66,014 shares of the bank’s stock, valued at approximately $3,474,000.

A number of other institutional investors also recently bought and sold shares of TBBK. Smartleaf Asset Management LLC raised 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 purchasing an additional 489 shares during the period. R Squared Ltd purchased a new stake in Bancorp in the fourth quarter worth about $45,000. Point72 DIFC Ltd bought a new position in shares of Bancorp in the third quarter worth about $54,000. Advisors Asset Management Inc. lifted its position in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock valued at $74,000 after buying an additional 741 shares in the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Bancorp during the 3rd quarter valued at about $77,000. Institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

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

Bancorp Price Performance

TBBK opened at $53.59 on Friday. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 12.46 and a beta of 1.59. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84. The business’s fifty day simple moving average is $56.27 and its 200-day simple moving average is $54.72.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Bancorp Company 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.