The Bancorp, Inc. (TBBK) Position Increased by Emerald Mutual Fund Advisers Trust
Emerald Mutual Fund Advisers Trust boosted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 54.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 625,049 shares of the bank’s stock after purchasing an additional 220,912 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 1.12% of The Bancorp worth $5,169,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in The Bancorp by 9.5% during 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 during the period. Vanguard Group Inc. raised its stake in The Bancorp by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock valued at $10,646,000 after purchasing an additional 90,800 shares during the period. Heartland Advisors Inc. raised its stake in The Bancorp by 5.9% during the 2nd quarter. Heartland Advisors Inc. now owns 1,798,800 shares of the bank’s stock valued at $13,635,000 after purchasing an additional 100,000 shares during the period. Frontier Capital Management Co. LLC bought a new stake in The Bancorp during the 2nd quarter valued at approximately $12,162,000. Finally, Signia Capital Management LLC raised its stake in The Bancorp by 64.4% during the 2nd quarter. Signia Capital Management LLC now owns 1,006,430 shares of the bank’s stock valued at $7,628,000 after purchasing an additional 394,183 shares during the period. 75.18% of the stock is currently owned by institutional investors.
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In related news, EVP Jeffrey A. Nager bought 5,000 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was purchased at an average price of $7.82 per share, for a total transaction of $39,100.00. Following the acquisition, the executive vice president now owns 10,000 shares in the company, valued at $78,200. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Castle Creek Capital Partners bought 225,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was bought at an average price of $7.41 per share, with a total value of $1,667,250.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 323,700 shares of company stock worth $2,409,100. Corporate insiders own 12.40% of the company’s stock.
Shares of The Bancorp, Inc. (TBBK) opened at $8.87 on Friday. The Bancorp, Inc. has a 12 month low of $4.41 and a 12 month high of $9.00. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.64 and a quick ratio of 0.50.
Several brokerages recently issued reports on TBBK. Zacks Investment Research raised The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research note on Wednesday. BidaskClub downgraded The Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. UBS Group AG (USA) raised The Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 31st. Raymond James Financial, Inc. raised The Bancorp from a “market perform” rating to an “outperform” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $6.50 price objective on shares of The Bancorp in a research note on Friday, July 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price 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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