Dimensional Fund Advisors LP increased its holdings in Bancorp Inc (NASDAQ:TBBK) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,936,235 shares of the bank’s stock after acquiring an additional 248,998 shares during the quarter. Dimensional Fund Advisors LP owned about 5.26% of Bancorp worth $24,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its stake in shares of Bancorp by 5.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 183,499 shares of the bank’s stock worth $1,518,000 after acquiring an additional 9,627 shares in the last quarter. Trexquant Investment LP bought a new stake in Bancorp during the 3rd quarter valued at about $162,000. JPMorgan Chase & Co. bought a new stake in Bancorp during the 3rd quarter valued at about $845,000. Systematic Financial Management LP bought a new stake in Bancorp during the 3rd quarter valued at about $1,469,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Bancorp during the 3rd quarter valued at about $232,000. Institutional investors own 74.08% of the company’s stock.
Shares of Bancorp Inc (TBBK) traded up $0.16 during midday trading on Friday, hitting $10.41. 700,178 shares of the stock were exchanged, compared to its average volume of 365,275. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.50 and a current ratio of 0.60. The stock has a market cap of $581.50, a P/E ratio of 33.58 and a beta of 1.22. Bancorp Inc has a 12-month low of $4.41 and a 12-month high of $11.28.
A number of research firms have weighed in on TBBK. Sandler O’Neill restated a “hold” rating and set a $11.00 price objective on shares of Bancorp in a research note on Friday, January 12th. Raymond James Financial upgraded shares of Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $11.00 to $13.00 in a research note on Friday, January 26th. BidaskClub lowered shares of Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Zacks Investment Research upgraded shares of Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Friday, December 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $9.00 price target on shares of Bancorp in a report on Friday, November 10th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $10.40.
In other news, Director Daniel G. Cohen sold 250,000 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total transaction of $2,382,500.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Chrystal sold 62,285 shares of the firm’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $9.65, for a total transaction of $601,050.25. The disclosure for this sale can be found here. Company insiders own 12.40% of the company’s stock.
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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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