Frontier Capital Management Co. LLC Sells 618,734 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Frontier Capital Management Co. LLC trimmed its position in The Bancorp, Inc. (NASDAQ:TBBKFree Report) by 29.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,506,789 shares of the bank’s stock after selling 618,734 shares during the period. Frontier Capital Management Co. LLC owned 2.81% of Bancorp worth $58,102,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in Bancorp in the third quarter worth $103,000. Quest Partners LLC purchased a new position in shares of Bancorp in the 4th quarter valued at approximately $115,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Bancorp in the 3rd quarter valued at approximately $157,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Bancorp during the third quarter valued at approximately $183,000. Finally, Summit Asset Management LLC bought a new position in Bancorp in the fourth quarter worth $202,000. Institutional investors own 96.22% of the company’s stock.

Analysts Set New Price Targets

TBBK has been the topic of a number of analyst reports. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Keefe, Bruyette & Woods reduced their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th.

Read Our Latest Analysis on Bancorp

Insider Activity

In other news, Director Matthew Cohn purchased 2,485 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average price of $34.21 per share, with a total value of $85,011.85. Following the purchase, the director now directly owns 157,627 shares in the company, valued at approximately $5,392,419.67. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Bancorp news, Director Matthew Cohn bought 2,485 shares of Bancorp stock in a transaction on Friday, March 15th. The shares were bought at an average price of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the transaction, the director now directly owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cheryl Creuzot sold 766 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $32.64, for a total value of $25,002.24. Following the transaction, the director now owns 7,638 shares of the company’s stock, valued at $249,304.32. The disclosure for this sale can be found here. In the last quarter, insiders have bought 4,191 shares of company stock valued at $139,974. 5.20% of the stock is currently owned by insiders.

Bancorp Price Performance

TBBK stock traded down $0.06 during mid-day trading on Tuesday, reaching $32.26. The company’s stock had a trading volume of 182,918 shares, compared to its average volume of 613,416. The stock has a market cap of $1.69 billion, a PE ratio of 8.73 and a beta of 1.42. The company’s 50 day moving average is $32.64 and its two-hundred day moving average is $37.19. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $47.11. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

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

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.

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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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