The Bancorp (TBBK) Sees Large Volume Increase
Shares of The Bancorp, Inc. (NASDAQ:TBBK) saw an uptick in trading volume on Friday . 2,052,650 shares were traded during mid-day trading, an increase of 524% from the previous session’s volume of 329,122 shares.The stock last traded at $10.13 and had previously closed at $9.89.
Several brokerages have issued reports on TBBK. Zacks Investment Research lowered The Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 9th. Piper Jaffray Companies reissued a “hold” rating and issued a $9.00 price target on shares of The Bancorp in a research note on Friday, November 10th. Finally, BidaskClub raised The Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $8.56.
The company has a quick ratio of 0.50, a current ratio of 0.60 and a debt-to-equity ratio of 0.16.
Several large investors have recently modified their holdings of TBBK. Cubist Systematic Strategies LLC acquired a new position in shares of The Bancorp during the third quarter worth approximately $103,000. CAPROCK Group Inc. acquired a new position in shares of The Bancorp during the third quarter worth approximately $106,000. Goldman Sachs Group Inc. raised its position in shares of The Bancorp by 55.5% during the first quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock worth $156,000 after purchasing an additional 10,895 shares during the period. Trexquant Investment LP acquired a new position in shares of The Bancorp during the third quarter worth approximately $162,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of The Bancorp by 0.5% during the second quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock worth $167,000 after purchasing an additional 117 shares during the period. 72.84% of the stock is currently owned by institutional investors.
The Bancorp Company Profile
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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