Swiss National Bank raised its holdings in shares of Bancorp Inc (NASDAQ:TBBK) by 6.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,300 shares of the bank’s stock after purchasing an additional 6,200 shares during the quarter. Swiss National Bank owned approximately 0.17% of Bancorp worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TBBK. SG Americas Securities LLC purchased a new stake in Bancorp during the first quarter valued at about $166,000. Teacher Retirement System of Texas purchased a new stake in Bancorp during the fourth quarter valued at about $191,000. Stone Ridge Asset Management LLC purchased a new stake in Bancorp during the fourth quarter valued at about $202,000. MetLife Investment Advisors LLC purchased a new stake in Bancorp during the fourth quarter valued at about $254,000. Finally, Trexquant Investment LP purchased a new stake in Bancorp during the first quarter valued at about $269,000. 80.38% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Daniel G. Cohen sold 150,000 shares of the company’s stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $11.09, for a total transaction of $1,663,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.10% of the company’s stock.
Several research firms have commented on TBBK. Zacks Investment Research raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, May 17th. BidaskClub raised shares of Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bancorp currently has a consensus rating of “Buy” and a consensus target price of $11.00.
Bancorp opened at $11.32 on Friday, according to Marketbeat. The stock has a market cap of $633.46 million, a price-to-earnings ratio of 22.20 and a beta of 1.11. Bancorp Inc has a 52 week low of $6.97 and a 52 week high of $12.00. The company has a current ratio of 0.60, a quick ratio of 0.52 and a debt-to-equity ratio of 0.17.
Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, April 26th. The bank reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.07. The business had revenue of $59.17 million for the quarter, compared to the consensus estimate of $51.52 million. Bancorp had a net margin of 12.36% and a return on equity of 9.65%. analysts anticipate that Bancorp Inc will post 0.79 earnings per share for the current fiscal year.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.
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