Emerald Mutual Fund Advisers Trust Trims Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Emerald Mutual Fund Advisers Trust trimmed its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 84.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,103 shares of the bank’s stock after selling 163,029 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.06% of Bancorp worth $1,099,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Bancorp by 0.5% in the first quarter. Vanguard Group Inc. now owns 3,622,973 shares of the bank’s stock worth $121,225,000 after purchasing an additional 16,482 shares during the period. Brown Advisory Inc. increased its stake in shares of Bancorp by 6.7% in the 4th quarter. Brown Advisory Inc. now owns 1,542,256 shares of the bank’s stock worth $59,469,000 after acquiring an additional 96,551 shares in the last quarter. Principal Financial Group Inc. lifted its position in Bancorp by 21.7% during the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after acquiring an additional 184,647 shares during the period. Goldman Sachs Group Inc. boosted its stake in Bancorp by 4.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 482,025 shares of the bank’s stock worth $18,587,000 after acquiring an additional 19,932 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bancorp by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 438,171 shares of the bank’s stock worth $16,896,000 after purchasing an additional 5,145 shares during the period. Institutional investors own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TBBK shares. StockNews.com lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Piper Sandler lifted their price objective on Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $55.00 target price (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Trading Down 1.5 %

NASDAQ:TBBK opened at $49.04 on Friday. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 13.33 and a beta of 1.45. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average price is $47.27 and its 200-day moving average price is $38.97. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $53.48.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing the consensus estimate of $1.10 by ($0.03). The business had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $127.45 million. Bancorp had a net margin of 31.52% and a return on equity of 26.81%. On average, equities research analysts forecast that The Bancorp, Inc. will post 4.42 earnings per share for the current fiscal year.

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.