Sheets Smith Wealth Management continued to hold its stake in The Bancorp, Inc. (NASDAQ:TBBK) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,005 shares of the bank’s stock at the end of the second quarter. Sheets Smith Wealth Management’s holdings in The Bancorp were worth $152,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. American International Group Inc. increased its stake in The Bancorp by 51.8% in the first quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock worth $156,000 after buying an additional 10,447 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in The Bancorp by 55.5% in the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock worth $156,000 after buying an additional 10,895 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in The Bancorp by 9.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 37,059 shares of the bank’s stock worth $189,000 after buying an additional 3,261 shares in the last quarter. Sei Investments Co. increased its stake in The Bancorp by 380.5% in the first quarter. Sei Investments Co. now owns 54,902 shares of the bank’s stock worth $280,000 after buying an additional 43,475 shares in the last quarter. Finally, Swiss National Bank increased its stake in The Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock worth $465,000 after buying an additional 27,600 shares in the last quarter. 79.62% of the stock is currently owned by institutional investors and hedge funds.
The Bancorp, Inc. (TBBK) traded up 2.26% during trading on Friday, hitting $7.68. The stock had a trading volume of 286,303 shares. The firm has a 50 day moving average price of $7.62 and a 200-day moving average price of $6.18. The firm’s market capitalization is $428.21 million. The Bancorp, Inc. has a 1-year low of $4.41 and a 1-year high of $8.20.
The Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. The firm had revenue of $45.39 million for the quarter, compared to analysts’ expectations of $42.40 million. On average, equities research analysts expect that The Bancorp, Inc. will post $0.48 EPS for the current year.
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A number of research firms recently issued reports on TBBK. Zacks Investment Research raised The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Wednesday, June 7th. BidaskClub downgraded The Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. UBS AG raised The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. BTIG Research raised The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Monday, May 1st. Finally, TheStreet downgraded The Bancorp from a “c-” rating to a “d” rating in a research report on Monday, April 24th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $7.75.
In related news, Director Castle Creek Capital Partners purchased 225,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $7.41 per share, for a total transaction of $1,667,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Frenkiel Paul purchased 22,498 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were bought at an average price of $6.56 per share, with a total value of $147,586.88. Following the purchase, the chief financial officer now owns 42,498 shares in the company, valued at $278,786.88. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 423,198 shares of company stock valued at $3,057,987 and have sold 286,973 shares valued at $1,935,818. Company insiders own 12.40% of the company’s stock.
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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