Numerai GP LLC Cuts Position in The Bancorp, Inc. (NASDAQ:TBBK)

Numerai GP LLC trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 55.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,066 shares of the bank’s stock after selling 8,961 shares during the period. Numerai GP LLC’s holdings in Bancorp were worth $372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Arete Wealth Advisors LLC grew its stake in Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock valued at $508,000 after purchasing an additional 242 shares during the period. Napa Wealth Management boosted its holdings in shares of Bancorp by 3.8% in the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank’s stock worth $365,000 after buying an additional 255 shares during the last quarter. Arcus Capital Partners LLC grew its position in Bancorp by 5.0% during the fourth quarter. Arcus Capital Partners LLC now owns 6,600 shares of the bank’s stock valued at $347,000 after buying an additional 315 shares during the period. Envestnet Asset Management Inc. increased its holdings in Bancorp by 3.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock worth $635,000 after buying an additional 408 shares during the last quarter. Finally, Bank of Montreal Can raised its position in Bancorp by 8.1% in the fourth quarter. Bank of Montreal Can now owns 5,565 shares of the bank’s stock worth $293,000 after acquiring an additional 418 shares during the period. 96.22% of the stock is currently owned by institutional investors.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $54.34 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.61 billion, a PE ratio of 12.64 and a beta of 1.31. The Bancorp, Inc. has a twelve month low of $31.34 and a twelve month high of $65.84. The company has a 50-day moving average price of $49.82 and a two-hundred day moving average price of $53.61.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Bancorp had a net margin of 30.97% and a return on equity of 27.33%. The business had revenue of $175.39 million for the quarter, compared to analysts’ expectations of $108.88 million. Equities analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TBBK shares. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on Bancorp from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Finally, Raymond James reissued an “outperform” rating and set a $67.00 price objective (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd.

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.