Entropy Technologies LP Invests $534,000 in The Bancorp, Inc. $TBBK

Entropy Technologies LP acquired a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 9,933 shares of the bank’s stock, valued at approximately $534,000.

A number of other hedge funds have also recently made changes to their positions in TBBK. Osaic Holdings Inc. increased its holdings in Bancorp by 3.7% in the second quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after purchasing an additional 197 shares during the period. California State Teachers Retirement System lifted its stake in shares of Bancorp by 0.6% in the second quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock worth $2,446,000 after acquiring an additional 253 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Bancorp by 4.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,856 shares of the bank’s stock worth $368,000 after acquiring an additional 267 shares during the period. Cerity Partners LLC boosted its holdings in Bancorp by 1.1% in the fourth quarter. Cerity Partners LLC now owns 27,518 shares of the bank’s stock valued at $1,858,000 after acquiring an additional 309 shares during the last quarter. Finally, Hilton Head Capital Partners LLC acquired a new stake in Bancorp during the 4th quarter valued at approximately $27,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Bancorp Stock Performance

Shares of TBBK stock opened at $67.59 on Thursday. The Bancorp, Inc. has a one year low of $50.20 and a one year high of $81.65. The firm has a 50-day moving average of $60.68 and a 200-day moving average of $59.37. The company has a market cap of $2.81 billion, a P/E ratio of 13.15 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.89 and a quick ratio of 0.88.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several analyst reports. Bank of America restated a “buy” rating on shares of Bancorp in a report on Monday, July 20th. Wall Street Zen raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Keefe, Bruyette & Woods raised shares of Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $72.00 to $77.00 in a research note on Thursday, July 9th. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 30th. Finally, Zacks Research raised shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.40.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.