Rafferty Asset Management LLC Buys 28,699 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Rafferty Asset Management LLC raised its stake in The Bancorp, Inc. (NASDAQ:TBBKFree Report) by 63.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,827 shares of the bank’s stock after acquiring an additional 28,699 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.14% of Bancorp worth $2,847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its holdings in Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock valued at $168,355,000 after buying an additional 157,987 shares during the last quarter. Brown Advisory Inc. raised its holdings in Bancorp by 6.7% in the 4th quarter. Brown Advisory Inc. now owns 1,542,256 shares of the bank’s stock valued at $59,469,000 after buying an additional 96,551 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Bancorp by 21.7% in the 4th quarter. Principal Financial Group Inc. now owns 1,036,922 shares of the bank’s stock valued at $39,984,000 after buying an additional 184,647 shares during the last quarter. American Century Companies Inc. raised its holdings in Bancorp by 21.9% in the 3rd quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after buying an additional 175,854 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in Bancorp by 80.7% in the 3rd quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after buying an additional 323,986 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling at Bancorp

In other news, Director Cheryl Creuzot sold 766 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total transaction of $25,002.24. Following the completion of the sale, the director now owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Jennifer F. Terry sold 11,256 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $32.18, for a total transaction of $362,218.08. Following the completion of the sale, the executive vice president now owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cheryl Creuzot sold 766 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $32.64, for a total transaction of $25,002.24. Following the sale, the director now directly owns 7,638 shares of the company’s stock, valued at approximately $249,304.32. The disclosure for this sale can be found here. In the last 90 days, insiders bought 6,191 shares of company stock valued at $214,194. 5.20% of the stock is currently owned by company insiders.

Bancorp Stock Performance

NASDAQ:TBBK opened at $32.50 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of 8.83 and a beta of 1.42. The company has a 50 day simple moving average of $32.65 and a two-hundred day simple moving average of $37.24. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $47.11.

Bancorp (NASDAQ:TBBKGet Free Report) last released its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. The business had revenue of $123.80 million during the quarter, compared to the consensus estimate of $126.86 million. Bancorp had a net margin of 31.40% and a return on equity of 26.32%. During the same quarter in the prior year, the firm posted $0.88 EPS. Research analysts anticipate that The Bancorp, Inc. will post 4.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

TBBK has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Monday, April 29th.

Read Our Latest Report on Bancorp

About Bancorp

(Free Report)

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.

See Also

Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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