Systematic Financial Management LP Increases Stake in Bancorp Inc (TBBK)
Systematic Financial Management LP lifted its holdings in Bancorp Inc (NASDAQ:TBBK) by 19.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 108,330 shares of the bank’s stock after acquiring an additional 17,715 shares during the quarter. Systematic Financial Management LP’s holdings in Bancorp were worth $875,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in TBBK. Comerica Bank boosted its position in shares of Bancorp by 8.2% in the 1st quarter. Comerica Bank now owns 14,455 shares of the bank’s stock worth $124,000 after buying an additional 1,100 shares in the last quarter. QS Investors LLC boosted its position in Bancorp by 1.1% during the fourth quarter. QS Investors LLC now owns 120,816 shares of the bank’s stock valued at $962,000 after purchasing an additional 1,300 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in Bancorp by 3.3% during the first quarter. Virginia Retirement Systems ET AL now owns 44,400 shares of the bank’s stock valued at $359,000 after purchasing an additional 1,400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Bancorp by 7.4% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,250 shares of the bank’s stock valued at $281,000 after purchasing an additional 2,440 shares during the last quarter. Finally, United Services Automobile Association boosted its position in Bancorp by 17.0% during the fourth quarter. United Services Automobile Association now owns 17,186 shares of the bank’s stock valued at $137,000 after purchasing an additional 2,494 shares during the last quarter. 79.63% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:TBBK traded up $0.13 on Tuesday, hitting $9.88. The company’s stock had a trading volume of 2,450 shares, compared to its average volume of 148,448. The company has a quick ratio of 0.56, a current ratio of 0.70 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $544.92 million, a price-to-earnings ratio of 14.33 and a beta of 1.30. Bancorp Inc has a one year low of $7.64 and a one year high of $11.80.
Several research analysts recently commented on TBBK shares. Zacks Investment Research cut Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 26th. BidaskClub lowered Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, February 13th. ValuEngine lowered Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 20th. Finally, TheStreet lowered Bancorp from a “b-” rating to a “c” rating in a research note on Monday, April 8th.
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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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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