Goldman Sachs Group Inc. Grows Holdings in The Bancorp, Inc. (TBBK)
Goldman Sachs Group Inc. raised its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 512.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,841 shares of the bank’s stock after buying an additional 156,331 shares during the period. Goldman Sachs Group Inc. owned about 0.34% of The Bancorp worth $1,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in TBBK. Frontier Capital Management Co. LLC purchased a new stake in The Bancorp in the 2nd quarter valued at about $12,162,000. Emerald Mutual Fund Advisers Trust purchased a new stake in The Bancorp in the 2nd quarter valued at about $3,063,000. Signia Capital Management LLC boosted its position in The Bancorp by 64.4% in the 2nd quarter. Signia Capital Management LLC now owns 1,006,430 shares of the bank’s stock valued at $7,628,000 after buying an additional 394,183 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of The Bancorp by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,687,237 shares of the bank’s stock valued at $20,370,000 after purchasing an additional 233,451 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of The Bancorp by 60.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 484,586 shares of the bank’s stock valued at $3,673,000 after purchasing an additional 181,971 shares in the last quarter. 75.18% of the stock is owned by institutional investors.
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Shares of The Bancorp, Inc. (NASDAQ TBBK) opened at $8.87 on Friday. The company has a quick ratio of 0.50, a current ratio of 0.64 and a debt-to-equity ratio of 0.17.
In other news, EVP Ron J. Wechsler sold 5,000 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $7.61, for a total transaction of $38,050.00. Following the completion of the transaction, the executive vice president now directly owns 43,299 shares of the company’s stock, valued at $329,505.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Castle Creek Capital Partners acquired 93,700 shares of the stock in a transaction dated Thursday, August 17th. The shares were purchased at an average cost of $7.50 per share, with a total value of $702,750.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 323,700 shares of company stock valued at $2,409,100. Insiders own 12.40% of the company’s stock.
Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday. BidaskClub lowered shares of The Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 11th. UBS Group AG (USA) upgraded shares of The Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, July 31st. Raymond James Financial, Inc. upgraded shares of The Bancorp from a “market perform” rating to an “outperform” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $6.50 price target on shares of The Bancorp in a report on Friday, July 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The Bancorp currently has an average rating of “Buy” and a consensus price target of $7.94.
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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