The Bancorp, Inc. (TBBK) Director Castle Creek Capital Partners Acquires 93,700 Shares
The Bancorp, Inc. (NASDAQ:TBBK) Director Castle Creek Capital Partners bought 93,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $702,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Castle Creek Capital Partners also recently made the following trade(s):
- On Wednesday, August 16th, Castle Creek Capital Partners bought 225,000 shares of The Bancorp stock. The shares were purchased at an average cost of $7.41 per share, for a total transaction of $1,667,250.00.
The Bancorp, Inc. (NASDAQ:TBBK) traded up 2.26% during midday trading on Friday, reaching $7.68. The company had a trading volume of 286,303 shares. The firm’s market capitalization is $428.21 million. The Bancorp, Inc. has a one year low of $4.41 and a one year high of $8.20. The stock’s 50 day moving average price is $7.62 and its 200-day moving average price is $6.18.
The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative net margin of 16.27% and a negative return on equity of 4.27%. The business had revenue of $45.39 million for the quarter, compared to analyst estimates of $42.40 million. On average, equities research analysts anticipate that The Bancorp, Inc. will post $0.48 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in TBBK. Frontier Capital Management Co. LLC bought a new position in shares of The Bancorp during the second quarter worth approximately $12,162,000. Second Curve Capital LLC raised its position in shares of The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock worth $15,991,000 after buying an additional 735,000 shares during the period. Signia Capital Management LLC bought a new position in shares of The Bancorp during the first quarter worth approximately $3,122,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of The Bancorp during the second quarter worth approximately $3,063,000. Finally, Gendell Jeffrey L bought a new position in shares of The Bancorp during the first quarter worth approximately $1,463,000. Institutional investors and hedge funds own 79.62% of the company’s stock.
A number of research firms recently weighed in on TBBK. BidaskClub downgraded The Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. UBS AG raised The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Zacks Investment Research raised The Bancorp from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. raised The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, ValuEngine raised The Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, June 28th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The Bancorp has an average rating of “Buy” and a consensus target price of $7.75.
About The Bancorp
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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