Bancorp Inc (TBBK) Sees Large Growth in Short Interest
Bancorp Inc (NASDAQ:TBBK) was the target of a large increase in short interest in the month of April. As of April 28th, there was short interest totalling 3,852,171 shares, an increase of 6.7% from the April 13th total of 3,610,182 shares. Based on an average daily volume of 433,784 shares, the short-interest ratio is currently 8.9 days.
Shares of Bancorp (NASDAQ:TBBK) traded up 0.97% during mid-day trading on Friday, hitting $6.22. 292,618 shares of the stock traded hands. The company’s market cap is $346.39 million. Bancorp has a 12 month low of $4.41 and a 12 month high of $8.20. The firm has a 50 day moving average of $5.69 and a 200 day moving average of $6.20.
Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. The business had revenue of $49.10 million during the quarter, compared to analyst estimates of $44.26 million. Equities analysts anticipate that Bancorp will post $0.39 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. American International Group Inc. increased its position in 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 during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Bancorp by 151.9% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 52,870 shares of the bank’s stock worth $339,000 after buying an additional 31,880 shares in the last quarter. 67.98% of the stock is currently owned by institutional investors.
TBBK has been the subject of a number of recent research reports. BTIG Research raised shares of Bancorp from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Monday, May 1st. TheStreet downgraded shares of Bancorp from a “c-” rating to a “d” rating in a report on Monday, April 24th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Bancorp in a report on Wednesday, February 1st. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $7.44.
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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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