Bancorp Inc (TBBK) Stake Lessened by Algert Global LLC

Algert Global LLC lowered its holdings in Bancorp Inc (NASDAQ:TBBK) by 41.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,030 shares of the bank’s stock after selling 9,230 shares during the period. Algert Global LLC’s holdings in Bancorp were worth $136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Koch Industries Inc. bought a new stake in shares of Bancorp in the 1st quarter worth approximately $115,000. Cubist Systematic Strategies LLC bought a new stake in shares of Bancorp in the 1st quarter worth approximately $120,000. Bailard Inc. bought a new stake in shares of Bancorp in the 1st quarter worth approximately $131,000. Old Mutual Global Investors UK Ltd. bought a new stake in Bancorp during the 1st quarter valued at $147,000. Finally, Bank of Montreal Can raised its holdings in Bancorp by 427.8% during the 2nd quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock valued at $154,000 after buying an additional 11,983 shares during the last quarter. 79.79% of the stock is currently owned by institutional investors.

In related news, Director Daniel G. Cohen sold 140,000 shares of the stock in a transaction dated Tuesday, August 7th. The shares were sold at an average price of $9.83, for a total transaction of $1,376,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel G. Cohen sold 25,000 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $9.63, for a total transaction of $240,750.00. The disclosure for this sale can be found here. 11.10% of the stock is owned by corporate insiders.

TBBK has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, May 3rd. BidaskClub lowered shares of Bancorp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Finally, TheStreet upgraded shares of Bancorp from a “c+” rating to a “b” rating in a report on Friday, June 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company. Bancorp has an average rating of “Hold” and a consensus target price of $11.25.

NASDAQ TBBK traded up $0.12 during trading on Friday, hitting $10.03. The company had a trading volume of 241,300 shares, compared to its average volume of 283,791. The company has a current ratio of 0.63, a quick ratio of 0.51 and a debt-to-equity ratio of 0.17. Bancorp Inc has a one year low of $7.54 and a one year high of $12.00. The firm has a market capitalization of $558.82 million, a PE ratio of 19.69 and a beta of 1.13.

Bancorp (NASDAQ:TBBK) last released its earnings results on Thursday, July 26th. The bank reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.03). The business had revenue of $46.57 million during the quarter, compared to analysts’ expectations of $47.51 million. Bancorp had a return on equity of 9.81% and a net margin of 6.61%. sell-side analysts predict that Bancorp Inc will post 0.73 earnings per share for the current year.

Bancorp Company 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.

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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