Raymond James & Associates bought a new position in Bancorp Inc (NASDAQ:TBBK) in the 2nd quarter, Holdings Channel reports. The fund bought 16,028 shares of the bank’s stock, valued at approximately $168,000.
Other hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new stake in Bancorp in the first quarter worth approximately $120,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Bancorp in the second quarter worth approximately $124,000. Bank of Montreal Can grew its position in Bancorp by 427.8% in the second quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock worth $154,000 after acquiring an additional 11,983 shares in the last quarter. United Services Automobile Association grew its position in Bancorp by 59.6% in the second quarter. United Services Automobile Association now owns 17,788 shares of the bank’s stock worth $186,000 after acquiring an additional 6,643 shares in the last quarter. Finally, Exane Derivatives bought a new stake in Bancorp in the second quarter worth approximately $207,000. 80.11% of the stock is owned by institutional investors.
NASDAQ TBBK opened at $10.35 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.17. The firm has a market cap of $584.22 million, a P/E ratio of 20.29 and a beta of 0.98. Bancorp Inc has a 1 year low of $8.51 and a 1 year high of $12.00.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 25th. The bank reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.31). The firm had revenue of $121.60 million for the quarter, compared to the consensus estimate of $120.75 million. Bancorp had a return on equity of 11.88% and a net margin of 6.61%. On average, equities research analysts expect that Bancorp Inc will post 0.74 earnings per share for the current year.
In other Bancorp news, Director Daniel G. Cohen sold 25,000 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $9.63, for a total value of $240,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel G. Cohen sold 140,000 shares of the stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The disclosure for this sale can be found here. 11.10% of the stock is currently owned by corporate insiders.
TBBK has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. BidaskClub raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. ValuEngine raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 29th. Finally, TheStreet downgraded shares of Bancorp from a “b” rating to a “c” rating in a report on Thursday, August 30th. Four analysts have rated the stock with a hold rating and two have given a strong buy rating to the stock. Bancorp currently has a consensus rating of “Buy” and an average price target of $11.00.
Bancorp Company Profile
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 retirement accounts.
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