Yacktman Asset Management LP Has $629,000 Position in The Bancorp, Inc. (TBBK)
Yacktman Asset Management LP maintained its stake in The Bancorp, Inc. (NASDAQ:TBBK) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,000 shares of the bank’s stock at the end of the second quarter. Yacktman Asset Management LP’s holdings in The Bancorp were worth $629,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in The Bancorp by 2.0% in the first quarter. Wellington Management Group LLP now owns 5,241,020 shares of the bank’s stock valued at $26,729,000 after buying an additional 104,306 shares during the period. Second Curve Capital LLC increased its stake in The Bancorp by 30.6% in the first quarter. Second Curve Capital LLC now owns 3,135,470 shares of the bank’s stock valued at $15,991,000 after buying an additional 735,000 shares during the period. Wells Fargo & Company MN increased its stake in The Bancorp by 4.4% in the first quarter. Wells Fargo & Company MN now owns 2,466,233 shares of the bank’s stock valued at $12,578,000 after buying an additional 102,883 shares during the period. Dimensional Fund Advisors LP increased its stake in The Bancorp by 6.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,453,786 shares of the bank’s stock valued at $12,514,000 after buying an additional 148,942 shares during the period. Finally, Vanguard Group Inc. increased its stake in The Bancorp by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock valued at $10,646,000 after buying an additional 90,800 shares during the period. 79.62% of the stock is currently owned by institutional investors and hedge funds.
The Bancorp, Inc. (TBBK) opened at 7.51 on Friday. The Bancorp, Inc. has a one year low of $4.41 and a one year high of $8.20. The company’s market capitalization is $418.74 million. The stock’s 50 day moving average price is $7.62 and its 200-day moving average price is $6.18.
The Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.04. The firm had revenue of $45.39 million during the quarter, compared to analysts’ expectations of $42.40 million. The Bancorp had a negative return on equity of 4.27% and a negative net margin of 16.27%. Equities analysts forecast that The Bancorp, Inc. will post $0.48 EPS for the current year.
Several equities research analysts have commented on TBBK shares. Piper Jaffray Companies reissued a “hold” rating and issued a $6.50 target price on shares of The Bancorp in a report on Friday, July 14th. BidaskClub raised The Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded The Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine raised The Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, TheStreet raised The Bancorp from a “d+” rating to a “c-” rating in a report on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The Bancorp currently has a consensus rating of “Buy” and an average price target of $7.75.
In other news, Director Walter T. Beach sold 106,784 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $7.74, for a total value of $826,508.16. Following the completion of the sale, the director now owns 122,640 shares of the company’s stock, valued at approximately $949,233.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Castle Creek Capital Partners acquired 225,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was acquired at an average cost 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 three months, insiders bought 329,498 shares of company stock valued at $2,355,237 and sold 286,973 shares valued at $1,935,818. 12.40% of the stock is owned by company insiders.
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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