First Trust Advisors LP raised its stake in shares of The Bancorp Inc. (NASDAQ:TBBK) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,472 shares of the company’s stock after buying an additional 1,214 shares during the period. First Trust Advisors LP owned approximately 0.10% of The Bancorp worth $226,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in TBBK. Emerald Acquisition Ltd. purchased a new position in The Bancorp during the second quarter valued at $4,093,000. Renaissance Technologies LLC raised its position in The Bancorp by 134.0% in the first quarter. Renaissance Technologies LLC now owns 163,300 shares of the company’s stock valued at $934,000 after buying an additional 93,500 shares during the last quarter. Sippican Capital Advisors raised its position in The Bancorp by 24.8% in the second quarter. Sippican Capital Advisors now owns 296,205 shares of the company’s stock valued at $1,783,000 after buying an additional 58,910 shares during the last quarter. Aristotle Capital Boston LLC raised its position in The Bancorp by 11.5% in the first quarter. Aristotle Capital Boston LLC now owns 355,708 shares of the company’s stock valued at $2,035,000 after buying an additional 36,747 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in The Bancorp during the first quarter valued at $125,000. 77.99% of the stock is owned by institutional investors.
Shares of The Bancorp Inc. (NASDAQ:TBBK) traded up 0.71% during midday trading on Monday, hitting $7.05. 9,725 shares of the company’s stock were exchanged. The stock’s market cap is $266.81 million. The Bancorp Inc. has a 1-year low of $3.88 and a 1-year high of $8.20. The stock’s 50 day moving average is $6.34 and its 200-day moving average is $5.96.
The Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, July 28th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by $0.24. Analysts predict that The Bancorp Inc. will post ($1.03) earnings per share for the current fiscal year.
Several equities analysts have recently commented on TBBK shares. Zacks Investment Research upgraded shares of The Bancorp from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 5th. BTIG Research restated a “buy” rating and issued a $10.00 price objective on shares of The Bancorp in a report on Monday, July 25th. Raymond James Financial Inc. upgraded shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 price objective on the stock in a report on Tuesday, August 9th. Finally, TheStreet lowered shares of The Bancorp from a “hold” rating to a “sell” rating in a report on Monday, August 29th.
In related news, CEO Damian Kozlowski purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The stock was acquired at an average price of $4.50 per share, for a total transaction of $225,000.00. Following the completion of the purchase, the chief executive officer now owns 350,000 shares in the company, valued at $1,575,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Hersh Kozlov purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The stock was bought at an average price of $6.12 per share, with a total value of $122,400.00. Following the purchase, the director now owns 27,500 shares of the company’s stock, valued at approximately $168,300. The disclosure for this purchase can be found here. Insiders own 7.71% of the company’s stock.
The Bancorp Company Profile
The Bancorp, Inc is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank). The Bank is a chartered commercial bank located in Wilmington, Delaware and is a Federal Deposit Insurance Corporation (FDIC) insured institution. The Company operates through three segments: specialty finance, payments and corporate.
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