Chicago Equity Partners LLC raised its holdings in shares of Bancorp Inc (NASDAQ:TBBK) by 24.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,410 shares of the bank’s stock after buying an additional 11,480 shares during the quarter. Chicago Equity Partners LLC owned about 0.10% of Bancorp worth $588,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of TBBK. Anderson Hoagland & Co. grew its position in Bancorp by 20.8% during the second quarter. Anderson Hoagland & Co. now owns 121,843 shares of the bank’s stock worth $1,084,000 after buying an additional 20,938 shares in the last quarter. Bailard Inc. grew its position in Bancorp by 7.2% during the second quarter. Bailard Inc. now owns 19,300 shares of the bank’s stock worth $172,000 after buying an additional 1,300 shares in the last quarter. Capital Investment Counsel Inc grew its position in Bancorp by 23.8% during the second quarter. Capital Investment Counsel Inc now owns 12,381 shares of the bank’s stock worth $110,000 after buying an additional 2,381 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in Bancorp by 24.7% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,550 shares of the bank’s stock worth $139,000 after buying an additional 3,080 shares in the last quarter. Finally, Dupont Capital Management Corp purchased a new position in Bancorp during the second quarter worth about $965,000. Institutional investors and hedge funds own 77.61% of the company’s stock.
In other news, EVP Ron J. Wechsler sold 2,539 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $10.95, for a total value of $27,802.05. Also, EVP Ron J. Wechsler sold 22,461 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $11.25, for a total value of $252,686.25. Insiders sold a total of 79,686 shares of company stock valued at $867,269 over the last quarter. Company insiders own 11.80% of the company’s stock.
TBBK opened at $10.68 on Friday. The stock has a 50-day moving average price of $10.57 and a 200-day moving average price of $9.72. Bancorp Inc has a 12-month low of $7.64 and a 12-month high of $11.76. The company has a current ratio of 0.72, a quick ratio of 0.61 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $632.84 million, a P/E ratio of 15.48 and a beta of 1.26.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.11. Bancorp had a return on equity of 12.67% and a net margin of 20.66%. The firm had revenue of $71.08 million during the quarter, compared to analysts’ expectations of $63.76 million. On average, equities research analysts predict that Bancorp Inc will post 1.09 EPS for the current year.
Several research firms recently commented on TBBK. ValuEngine cut Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Zacks Investment Research upgraded Bancorp from a “sell” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Saturday, November 2nd. Finally, BidaskClub cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday.
About Bancorp
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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