Schneider Capital Management Corp lessened its position in The Bancorp, Inc. (NASDAQ:TBBK) by 19.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 615,688 shares of the bank’s stock after selling 145,449 shares during the period. Schneider Capital Management Corp owned approximately 1.10% of The Bancorp worth $4,667,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of TBBK. Frontier Capital Management Co. LLC bought a new stake in shares of The Bancorp in the 2nd quarter worth $12,162,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of The Bancorp in the 2nd quarter worth $3,063,000. Signia Capital Management LLC raised its stake in shares of The Bancorp by 64.4% in the 2nd quarter. Signia Capital Management LLC now owns 1,006,430 shares of the bank’s stock worth $7,628,000 after buying an additional 394,183 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of The Bancorp by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,687,237 shares of the bank’s stock worth $20,370,000 after buying an additional 233,451 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of The Bancorp by 60.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 484,586 shares of the bank’s stock worth $3,673,000 after buying an additional 181,971 shares in the last quarter. 74.94% of the stock is currently owned by institutional investors.
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Shares of The Bancorp, Inc. (TBBK) traded down 0.85% on Thursday, hitting $8.20. The stock had a trading volume of 65,128 shares. The company’s market capitalization is $457.21 million. The Bancorp, Inc. has a one year low of $4.41 and a one year high of $8.57. The firm has a 50 day moving average price of $8.02 and a 200 day moving average price of $6.97.
The Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative return on equity of 4.27% and a negative net margin of 16.27%. The firm had revenue of $45.39 million for the quarter, compared to the consensus estimate of $42.40 million. On average, equities research analysts predict that The Bancorp, Inc. will post $0.48 earnings per share for the current fiscal year.
In other The Bancorp news, Director Walter T. Beach sold 106,784 shares of The Bancorp stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $7.74, for a total value of $826,508.16. Following the sale, the director now owns 122,640 shares of the company’s stock, valued at approximately $949,233.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Castle Creek Capital Partners purchased 93,700 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $7.50 per share, for a total transaction of $702,750.00. The disclosure for this purchase can be found here. Insiders acquired a total of 323,700 shares of company stock worth $2,409,100 in the last three months. Company insiders own 12.40% of the company’s stock.
A number of research firms have recently commented on TBBK. Zacks Investment Research downgraded The Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub raised The Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Raymond James Financial, Inc. raised The Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 31st. UBS AG raised The Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 31st. Finally, ValuEngine raised The Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The Bancorp has an average rating of “Buy” and an average price target of $7.75.
About The Bancorp
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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