Bank of New York Mellon Corp lessened its stake in shares of Bancorp Inc (NASDAQ:TBBK) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 296,979 shares of the bank’s stock after selling 5,759 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.53% of Bancorp worth $2,934,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Schwab Charles Investment Management Inc. grew its stake in shares of Bancorp by 5.5% during the third quarter. Schwab Charles Investment Management Inc. now owns 183,499 shares of the bank’s stock worth $1,518,000 after buying an additional 9,627 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Bancorp during the third quarter worth $103,000. Teacher Retirement System of Texas bought a new stake in shares of Bancorp during the fourth quarter worth $191,000. Algert Global LLC bought a new stake in shares of Bancorp during the fourth quarter worth $233,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of Bancorp during the third quarter worth $248,000. 79.09% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on the stock. BidaskClub lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Piper Jaffray reiterated a “hold” rating on shares of Bancorp in a report on Tuesday, February 13th. Raymond James upgraded shares of Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock 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 lowered shares of Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $10.40.
Shares of NASDAQ:TBBK opened at $11.22 on Friday. The firm has a market cap of $600.29, a PE ratio of 22.00 and a beta of 1.09. The company has a current ratio of 0.66, a quick ratio of 0.54 and a debt-to-equity ratio of 0.17. Bancorp Inc has a 52 week low of $4.80 and a 52 week high of $11.37.
Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, January 25th. The bank reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $46.84 million during the quarter, compared to analyst estimates of $46.29 million. Bancorp had a net margin of 10.15% and a return on equity of 7.43%. equities analysts anticipate that Bancorp Inc will post 0.79 earnings per share for the current year.
In related news, Director Hersh Kozlov sold 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $10.59, for a total value of $52,950.00. The transaction was disclosed in a document filed 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 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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