Cubist Systematic Strategies LLC Has $603,000 Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Cubist Systematic Strategies LLC lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 75.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,455 shares of the bank’s stock after selling 86,198 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Bancorp were worth $603,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can bought a new position in shares of Bancorp in the third quarter worth $1,584,000. John W. Rosenthal Capital Management Inc. acquired a new position in shares of Bancorp in the 3rd quarter valued at approximately $7,294,000. Sheets Smith Investment Management lifted its holdings in shares of Bancorp by 26.7% during the 2nd quarter. Sheets Smith Investment Management now owns 49,609 shares of the bank’s stock worth $1,216,000 after acquiring an additional 10,449 shares during the period. James Investment Research Inc. boosted its position in shares of Bancorp by 10.5% during the 3rd quarter. James Investment Research Inc. now owns 10,397 shares of the bank’s stock worth $229,000 after acquiring an additional 985 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in Bancorp by 20.6% in the third quarter. Brown Advisory Inc. now owns 1,219,589 shares of the bank’s stock valued at $26,806,000 after acquiring an additional 208,197 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TBBK shares. Raymond James initiated coverage on Bancorp in a report on Monday, January 30th. They issued an “outperform” rating and a $38.00 target price on the stock. TheStreet upgraded Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, November 15th.

Insider Transactions at Bancorp

In related news, insider Erika R. Caesar sold 4,388 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $34.78, for a total value of $152,614.64. Following the completion of the sale, the insider now directly owns 25,958 shares in the company, valued at $902,819.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Daniela Mielke acquired 1,400 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The shares were bought at an average cost of $34.64 per share, with a total value of $48,496.00. Following the completion of the purchase, the director now directly owns 18,180 shares in the company, valued at $629,755.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Erika R. Caesar sold 4,388 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $34.78, for a total value of $152,614.64. Following the completion of the sale, the insider now owns 25,958 shares in the company, valued at $902,819.24. The disclosure for this sale can be found here. 3.30% of the stock is owned by company insiders.

Bancorp Stock Down 5.4 %

NASDAQ:TBBK opened at $30.49 on Friday. The Bancorp, Inc. has a one year low of $16.59 and a one year high of $37.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.99 and a quick ratio of 0.91. The company has a market cap of $1.69 billion, a PE ratio of 13.37 and a beta of 1.49. The firm’s 50 day simple moving average is $32.66 and its 200 day simple moving average is $28.58.

Bancorp Profile

(Get Rating)

The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.