The Bancorp, Inc. (TBBK) Shares Bought by Sei Investments Co.
Sei Investments Co. increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 380.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,902 shares of the bank’s stock after buying an additional 43,475 shares during the period. Sei Investments Co. owned about 0.10% of The Bancorp worth $280,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in TBBK. Metropolitan Life Insurance Co. NY boosted its stake in shares of The Bancorp by 31.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 33,798 shares of the bank’s stock valued at $266,000 after buying an additional 8,087 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of The Bancorp during the fourth quarter valued at approximately $500,000. Swiss National Bank boosted its stake in shares of The Bancorp by 43.5% in the first quarter. Swiss National Bank now owns 91,100 shares of the bank’s stock valued at $465,000 after buying an additional 27,600 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of The Bancorp by 36.9% in the fourth quarter. Teachers Advisors LLC now owns 98,724 shares of the bank’s stock valued at $776,000 after buying an additional 26,624 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of The Bancorp by 9.4% in the first quarter. First Trust Advisors LP now owns 102,115 shares of the bank’s stock valued at $521,000 after buying an additional 8,778 shares during the last quarter. Institutional investors and hedge funds own 76.98% of the company’s stock.
Shares of The Bancorp, Inc. (TBBK) opened at 7.43 on Tuesday. The Bancorp, Inc. has a 12-month low of $4.41 and a 12-month high of $8.20. The company’s market capitalization is $413.77 million. The stock has a 50 day moving average of $6.49 and a 200-day moving average of $6.11.
The Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, April 27th. The bank reported $0.11 EPS for the quarter, topping the consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 50.29% and a negative return on equity of 11.95%. The business had revenue of $49.10 million for the quarter, compared to analyst estimates of $44.26 million. Equities research analysts forecast that The Bancorp, Inc. will post $0.39 EPS for the current year.
Several analysts have commented on the stock. TheStreet cut shares of The Bancorp from a “c-” rating to a “d” rating in a research note on Monday, April 24th. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research note on Wednesday, June 7th. Finally, BTIG Research upgraded shares of The Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Monday, May 1st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $7.35.
In related news, Director Walter T. Beach sold 33,640 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $6.26, for a total value of $210,586.40. Following the sale, the director now directly owns 362,829 shares in the company, valued at approximately $2,271,309.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Walter T. Beach sold 105,189 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $6.11, for a total transaction of $642,704.79. Following the completion of the sale, the director now owns 217,829 shares in the company, valued at $1,330,935.19. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 104,498 shares of company stock worth $687,987 and sold 180,189 shares worth $1,109,310. 7.71% of the stock is owned by insiders.
The Bancorp Company Profile
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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