Bowling Portfolio Management LLC Cuts Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Bowling Portfolio Management LLC trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 60.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 30,659 shares of the bank’s stock after selling 46,476 shares during the period. Bowling Portfolio Management LLC’s holdings in The Bancorp were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Anderson Hoagland & Co. boosted its position in The Bancorp by 18.0% during the third quarter. Anderson Hoagland & Co. now owns 243,223 shares of the bank’s stock valued at $2,384,000 after buying an additional 37,155 shares during the period. Nuveen Asset Management LLC boosted its position in The Bancorp by 21.1% during the second quarter. Nuveen Asset Management LLC now owns 1,006,653 shares of the bank’s stock valued at $9,865,000 after buying an additional 175,366 shares during the period. Charles Schwab Investment Management Inc. boosted its position in The Bancorp by 7.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 339,317 shares of the bank’s stock valued at $3,326,000 after buying an additional 23,331 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in The Bancorp by 0.9% during the second quarter. Jacobs Levy Equity Management Inc. now owns 417,060 shares of the bank’s stock valued at $4,087,000 after buying an additional 3,900 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of The Bancorp by 6.0% during the second quarter. Bank of America Corp DE now owns 221,406 shares of the bank’s stock worth $2,170,000 after purchasing an additional 12,601 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.

Shares of TBBK opened at $9.46 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.83 and a quick ratio of 0.51. The Bancorp, Inc. has a one year low of $3.36 and a one year high of $13.73. The company has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $8.39. The firm has a market capitalization of $544.81 million, a PE ratio of 9.85 and a beta of 1.51.

The Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07. The Bancorp had a net margin of 19.19% and a return on equity of 13.07%. The business had revenue of $70.61 million during the quarter, compared to analyst estimates of $62.46 million. Analysts expect that The Bancorp, Inc. will post 1.29 EPS for the current fiscal year.

In other The Bancorp news, Director John C. Chrystal sold 12,592 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $10.11, for a total value of $127,305.12. Following the completion of the sale, the director now directly owns 305,244 shares in the company, valued at $3,086,016.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.90% of the company’s stock.

A number of research firms have recently weighed in on TBBK. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, October 9th. ValuEngine lowered shares of The Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, October 1st. Finally, BidaskClub upgraded shares of The Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, October 7th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $11.00.

The Bancorp 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, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, insurance policy cash value-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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Institutional Ownership by Quarter for The Bancorp (NASDAQ:TBBK)

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