Bank of New York Mellon Corp Has $2.45 Million Position in The Bancorp, Inc. (TBBK)

Bank of New York Mellon Corp lowered its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,548 shares of the bank’s stock after selling 14,578 shares during the period. Bank of New York Mellon Corp owned approximately 0.58% of The Bancorp worth $2,445,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of The Bancorp by 55.5% during the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock valued at $156,000 after acquiring an additional 10,895 shares in the last quarter. American International Group Inc. increased its position in shares of The Bancorp by 51.8% during the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after acquiring an additional 10,447 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of The Bancorp by 9.6% during the first quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock valued at $189,000 after acquiring an additional 3,261 shares in the last quarter. Sei Investments Co. increased its position in shares of The Bancorp by 380.5% during the first quarter. Sei Investments Co. now owns 54,902 shares of the bank’s stock valued at $280,000 after acquiring an additional 43,475 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of The Bancorp by 5.5% during the second quarter. Rhumbline Advisers now owns 57,725 shares of the bank’s stock valued at $438,000 after acquiring an additional 3,010 shares in the last quarter. 74.94% of the stock is owned by institutional investors.

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Several brokerages recently weighed in on TBBK. Zacks Investment Research downgraded shares of The Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub raised shares of The Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Raymond James Financial, Inc. raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. UBS AG raised shares of The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $6.50 target price on shares of The Bancorp in a research report on Friday, July 14th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $7.75.

Shares of The Bancorp, Inc. (TBBK) opened at 8.14 on Friday. The firm has a 50-day moving average of $8.04 and a 200-day moving average of $6.98. The Bancorp, Inc. has a 52-week low of $4.41 and a 52-week high of $8.57. The company’s market cap is $453.86 million.

The Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. The business had revenue of $45.39 million for the quarter, compared to analyst estimates of $42.40 million. Equities research analysts forecast that The Bancorp, Inc. will post $0.48 earnings per share for the current year.

In other news, Director Walter T. Beach sold 106,784 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total value of $826,508.16. Following the sale, the director now owns 122,640 shares in the company, valued at $949,233.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey A. Nager acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was acquired at an average price of $7.82 per share, for a total transaction of $39,100.00. Following the purchase, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at $78,200. The disclosure for this purchase can be found here. Insiders have acquired a total of 323,700 shares of company stock worth $2,409,100 in the last 90 days. 12.40% of the stock is currently owned by company insiders.

The Bancorp Profile

The Bancorp, Inc is a financial holding company and its primary subsidiary is The Bancorp Bank (the Bank). The Company has four primary lines of specialty lending: securities backed lines of credit (SBLOC), automobile fleet and other equipment leasing, Small Business Administration (SBA), loans and loans generated for sale into capital markets primarily through both commercial mortgage backed securities (CMBS) and collateralized loan obligations (CLOs).

Institutional Ownership by Quarter for The Bancorp (NASDAQ:TBBK)

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