Wells Fargo & Company MN lowered its position in Bancorp Inc (NASDAQ:TBBK) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,417,008 shares of the bank’s stock after selling 7,182 shares during the period. Wells Fargo & Company MN owned approximately 2.54% of Bancorp worth $14,001,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rutabaga Capital Management LLC MA purchased a new stake in Bancorp in the fourth quarter valued at approximately $7,221,000. Teacher Retirement System of Texas purchased a new stake in Bancorp in the fourth quarter valued at approximately $191,000. American Century Companies Inc. purchased a new stake in Bancorp in the fourth quarter valued at approximately $2,470,000. Algert Global LLC purchased a new stake in Bancorp in the fourth quarter valued at approximately $233,000. Finally, Frontier Capital Management Co. LLC boosted its position in Bancorp by 31.9% in the fourth quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock valued at $27,843,000 after buying an additional 681,608 shares during the last quarter. Hedge funds and other institutional investors own 79.57% of the company’s stock.
In other news, Director Hersh Kozlov sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $10.58, for a total transaction of $52,900.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.40% of the company’s stock.
A number of brokerages recently commented on TBBK. BidaskClub upgraded Bancorp from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 9th. Piper Jaffray Companies restated a “hold” rating on shares of Bancorp in a research report on Tuesday, February 13th. Raymond James Financial upgraded Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $11.00 to $13.00 in a research report on Friday, January 26th. Sandler O’Neill restated a “hold” rating and issued a $11.00 price objective on shares of Bancorp in a research report on Friday, January 12th. Finally, Zacks Investment Research lowered Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $10.40.
Shares of Bancorp Inc (NASDAQ TBBK) opened at $10.95 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.60 and a quick ratio of 0.50. Bancorp Inc has a 52-week low of $4.41 and a 52-week high of $11.28. The company has a market capitalization of $608.87, a P/E ratio of 28.08 and a beta of 1.17.
Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Bancorp had a return on equity of 7.42% and a net margin of 2.74%. The company had revenue of $46.84 million during the quarter, compared to analysts’ expectations of $46.29 million. sell-side analysts forecast that Bancorp Inc will post 0.79 earnings per share for the current year.
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Bancorp Company 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).
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