Bridgeway Capital Management Inc. bought a new stake in Bancorp Inc (NASDAQ:TBBK) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 306,300 shares of the bank’s stock, valued at approximately $2,937,000. Bridgeway Capital Management Inc. owned about 0.54% of Bancorp as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Bancorp during the second quarter worth about $124,000. Zeke Capital Advisors LLC bought a new stake in shares of Bancorp during the third quarter worth about $143,000. Bank of Montreal Can grew its holdings in shares of Bancorp by 427.8% during the second quarter. Bank of Montreal Can now owns 14,784 shares of the bank’s stock worth $154,000 after purchasing an additional 11,983 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Bancorp during the second quarter worth about $168,000. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Bancorp by 358.3% during the second quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock worth $175,000 after purchasing an additional 13,083 shares during the last quarter. Hedge funds and other institutional investors own 80.96% of the company’s stock.
Several research firms have recently weighed in on TBBK. BidaskClub cut Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. TheStreet upgraded Bancorp from a “c” rating to a “b” rating in a report on Monday, November 26th. ValuEngine cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Finally, Zacks Investment Research upgraded Bancorp from a “hold” rating to a “strong-buy” rating and set a $11.00 price target on the stock in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.67.
Shares of TBBK stock opened at $9.95 on Monday. Bancorp Inc has a one year low of $8.64 and a one year high of $12.00. The company has a market capitalization of $561.64 million, a P/E ratio of 19.51 and a beta of 0.98. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.14.
Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 25th. The bank reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.90. Bancorp had a return on equity of 11.34% and a net margin of 23.24%. The business had revenue of $121.60 million for the quarter, compared to analysts’ expectations of $120.75 million. As a group, sell-side analysts anticipate that Bancorp Inc will post 0.78 EPS for the current fiscal year.
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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 accounts, savings accounts, money market accounts, commercial accounts, and retirement accounts.
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