The Bancorp, Inc. $TBBK Stake Increased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 16.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,729 shares of the bank’s stock after purchasing an additional 51,985 shares during the period. Bancorp makes up 1.3% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 22nd biggest position. Emerald Mutual Fund Advisers Trust owned about 0.79% of Bancorp worth $20,893,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Quarry LP purchased a new stake in shares of Bancorp in the first quarter valued at $39,000. Brooklyn Investment Group purchased a new stake in shares of Bancorp during the first quarter worth $58,000. GAMMA Investing LLC raised its holdings in shares of Bancorp by 45.2% during the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock worth $77,000 after acquiring an additional 456 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Bancorp during the second quarter worth $170,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in shares of Bancorp during the first quarter worth $169,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group upgraded Bancorp to a “buy” rating in a report on Monday, July 7th. Morgan Stanley reiterated an “overweight” rating and set a $52.00 price objective on shares of Bancorp in a report on Friday, July 18th. Raymond James Financial upgraded Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. Oppenheimer reiterated an “outperform” rating on shares of Bancorp in a report on Friday, July 18th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $62.00.

Insider Buying and Selling at Bancorp

In other Bancorp news, COO Gregor J. Garry sold 12,532 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $75.14, for a total transaction of $941,654.48. Following the transaction, the chief operating officer directly owned 110,107 shares in the company, valued at $8,273,439.98. This trade represents a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Cohn bought 550 shares of the business’s stock in a transaction on Monday, August 4th. The shares were bought at an average price of $63.51 per share, for a total transaction of $34,930.50. Following the completion of the acquisition, the director owned 1,900 shares of the company’s stock, valued at approximately $120,669. This represents a 40.74% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 22,841 shares of company stock worth $1,729,716 over the last three months. Corporate insiders own 5.60% of the company’s stock.

Bancorp Price Performance

NASDAQ TBBK opened at $77.64 on Thursday. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The stock’s 50-day moving average is $76.11 and its two-hundred day moving average is $63.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The firm has a market cap of $3.58 billion, a P/E ratio of 16.70 and a beta of 1.31.

Bancorp Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.