Chicago Equity Partners LLC decreased its stake in Bancorp Inc (NASDAQ:TBBK) by 51.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,545 shares of the bank’s stock after selling 201,385 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.34% of Bancorp worth $1,863,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Frontier Capital Management Co. LLC boosted its position in Bancorp by 31.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock worth $27,843,000 after acquiring an additional 681,608 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Bancorp by 24.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 228,471 shares of the bank’s stock valued at $2,258,000 after purchasing an additional 44,972 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Bancorp in the 3rd quarter valued at about $248,000. GSA Capital Partners LLP boosted its holdings in Bancorp by 114.6% in the 3rd quarter. GSA Capital Partners LLP now owns 150,491 shares of the bank’s stock valued at $1,245,000 after purchasing an additional 80,372 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Bancorp by 19.3% in the 3rd quarter. California Public Employees Retirement System now owns 231,879 shares of the bank’s stock valued at $1,918,000 after purchasing an additional 37,579 shares during the last quarter. Institutional investors and hedge funds own 74.43% of the company’s stock.
Several research firms have weighed in on TBBK. Zacks Investment Research upgraded shares of Bancorp from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, November 1st. BidaskClub downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Piper Jaffray Companies reissued a “hold” rating on shares of Bancorp in a research note on Tuesday. Raymond James Financial raised shares of Bancorp from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $11.00 to $13.00 in a research note on Friday, January 26th. Finally, Sandler O’Neill reaffirmed a “hold” rating and set a $11.00 target price on shares of Bancorp in a research note on Friday, January 12th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $10.40.
Bancorp Inc (NASDAQ TBBK) traded down $0.01 during midday trading on Wednesday, reaching $10.39. 234,000 shares of the company’s stock traded hands, compared to its average volume of 358,894. Bancorp Inc has a 12 month low of $4.41 and a 12 month high of $11.28. The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.16. The firm has a market cap of $580.94, a PE ratio of 23.64 and a beta of 1.23.
In related news, Director John C. Chrystal sold 62,285 shares of the stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $9.65, for a total transaction of $601,050.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel G. Cohen sold 250,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $9.53, for a total transaction of $2,382,500.00. The disclosure for this sale can be found here. Corporate insiders own 12.40% of the company’s stock.
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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).
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