Wells Fargo & Company MN lessened its holdings in shares of Bancorp Inc (NASDAQ:TBBK) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,417,008 shares of the bank’s stock after selling 7,182 shares during the quarter. Wells Fargo & Company MN owned approximately 2.54% of Bancorp worth $14,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TBBK. Prudential Financial Inc. bought a new stake in Bancorp in the 3rd quarter valued at $782,000. New York State Common Retirement Fund increased its holdings in Bancorp by 32.8% in the 2nd quarter. New York State Common Retirement Fund now owns 49,800 shares of the bank’s stock valued at $377,000 after acquiring an additional 12,299 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Bancorp in the 3rd quarter valued at $845,000. Dimensional Fund Advisors LP increased its holdings in shares of Bancorp by 9.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock worth $24,283,000 after buying an additional 248,998 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Bancorp by 24.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 228,471 shares of the bank’s stock worth $2,258,000 after buying an additional 44,972 shares during the last quarter. Institutional investors own 79.17% of the company’s stock.
Shares of TBBK traded down $0.31 during mid-day trading on Friday, hitting $10.45. The company’s stock had a trading volume of 193,363 shares, compared to its average volume of 280,487. Bancorp Inc has a 52-week low of $4.70 and a 52-week high of $11.37. The stock has a market capitalization of $604.79, a PE ratio of 20.49 and a beta of 1.09. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.54 and a current ratio of 0.66.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $46.84 million for the quarter, compared to the consensus estimate of $46.29 million. Bancorp had a return on equity of 7.43% and a net margin of 10.15%. equities research analysts forecast that Bancorp Inc will post 0.79 EPS for the current year.
In related news, Director Hersh Kozlov sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $10.58, for a total transaction of $52,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.40% of the company’s stock.
A number of research firms have recently weighed in on TBBK. BidaskClub upgraded shares of Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Piper Jaffray reiterated a “hold” rating on shares of Bancorp in a report on Tuesday, February 13th. Raymond James Financial upgraded shares of Bancorp from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $11.00 to $13.00 in a report on Friday, January 26th. Sandler O’Neill reiterated a “hold” rating and set a $11.00 price target on shares of Bancorp in a report on Friday, January 12th. Finally, Zacks Investment Research downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Bancorp presently has an average rating of “Buy” and an average target price of $10.40.
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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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