JPMorgan Chase & Co. Has $10.93 Million Stake in Bancorp Inc (TBBK)

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JPMorgan Chase & Co. lessened its position in Bancorp Inc (NASDAQ:TBBK) by 13.6% in the first quarter, Holdings Channel reports. The institutional investor owned 1,011,853 shares of the bank’s stock after selling 158,757 shares during the period. JPMorgan Chase & Co.’s holdings in Bancorp were worth $10,928,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Frontier Capital Management Co. LLC raised its position in shares of Bancorp by 28.3% in the first quarter. Frontier Capital Management Co. LLC now owns 3,616,814 shares of the bank’s stock valued at $39,062,000 after buying an additional 798,717 shares during the last quarter. BlackRock Inc. raised its position in shares of Bancorp by 1.1% in the fourth quarter. BlackRock Inc. now owns 3,249,097 shares of the bank’s stock valued at $32,101,000 after buying an additional 36,347 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Bancorp by 6.4% in the first quarter. Wells Fargo & Company MN now owns 1,507,709 shares of the bank’s stock valued at $16,283,000 after buying an additional 90,701 shares during the last quarter. Northern Trust Corp raised its position in shares of Bancorp by 1.2% in the first quarter. Northern Trust Corp now owns 573,741 shares of the bank’s stock valued at $6,196,000 after buying an additional 6,687 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Bancorp by 118.3% in the first quarter. American Century Companies Inc. now owns 545,763 shares of the bank’s stock valued at $5,894,000 after buying an additional 295,786 shares during the last quarter. 79.64% of the stock is owned by institutional investors and hedge funds.

In related news, Director Daniel G. Cohen sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, May 11th. The shares were sold at an average price of $11.09, for a total transaction of $1,663,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.10% of the company’s stock.

Shares of Bancorp opened at $10.85 on Friday, Marketbeat Ratings reports. Bancorp Inc has a one year low of $7.17 and a one year high of $12.00. The company has a quick ratio of 0.52, a current ratio of 0.60 and a debt-to-equity ratio of 0.17. The company has a market cap of $628.39 million, a P/E ratio of 21.27 and a beta of 1.11.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, April 26th. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.18 by $0.07. Bancorp had a net margin of 12.36% and a return on equity of 9.65%. The firm had revenue of $59.17 million during the quarter, compared to analyst estimates of $51.52 million. research analysts anticipate that Bancorp Inc will post 0.79 EPS for the current year.

A number of research firms have recently weighed in on TBBK. BidaskClub lowered shares of Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, May 17th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $11.00.

Bancorp 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 prepaid and debit cards.

Want to see what other hedge funds are holding TBBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bancorp Inc (NASDAQ:TBBK).

Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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