Bank of New York Mellon Corp lowered its stake in Bancorp Inc (NASDAQ:TBBK) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 296,979 shares of the bank’s stock after selling 5,759 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of Bancorp worth $2,934,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in Bancorp by 9.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock valued at $24,283,000 after purchasing an additional 248,998 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Bancorp by 31.9% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,818,097 shares of the bank’s stock worth $27,843,000 after buying an additional 681,608 shares during the last quarter. Rutabaga Capital Management LLC MA bought a new position in Bancorp during the 4th quarter worth approximately $7,221,000. Cornerstone Capital Management Holdings LLC. lifted its holdings in Bancorp by 16.6% during the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 383,004 shares of the bank’s stock worth $3,167,000 after buying an additional 54,400 shares during the last quarter. Finally, American Century Companies Inc. bought a new position in Bancorp during the 4th quarter worth approximately $2,470,000. Institutional investors and hedge funds own 79.09% of the company’s stock.
Shares of Bancorp stock opened at $10.66 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.54 and a current ratio of 0.66. The firm has a market cap of $595.23, a price-to-earnings ratio of 20.90 and a beta of 1.09. Bancorp Inc has a 1-year low of $4.79 and a 1-year high of $11.37.
Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 25th. The bank reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $46.84 million for the quarter, compared to the consensus estimate of $46.29 million. Bancorp had a net margin of 10.15% and a return on equity of 7.43%. research analysts forecast that Bancorp Inc will post 0.79 EPS for the current fiscal year.
TBBK has been the topic of a number of research analyst reports. Raymond James Financial raised Bancorp from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $11.00 to $13.00 in a report on Friday, January 26th. Zacks Investment Research raised Bancorp from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Friday, December 22nd. BidaskClub raised Bancorp from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Piper Jaffray reissued a “hold” rating on shares of Bancorp in a report on Tuesday, February 13th. Finally, Sandler O’Neill reissued a “hold” rating and issued a $11.00 price target on shares of Bancorp in a report on Friday, January 12th. Four investment 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. Bancorp presently has a consensus rating of “Buy” and a consensus price target of $10.40.
In other Bancorp news, Director Hersh Kozlov sold 5,000 shares of Bancorp stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $10.59, for a total transaction of $52,950.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 11.10% of the stock is owned by insiders.
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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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