State Street Corp Has $7.03 Million Position in The Bancorp, Inc. (TBBK)
State Street Corp boosted its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 8.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 926,777 shares of the bank’s stock after buying an additional 74,299 shares during the period. State Street Corp owned approximately 1.66% of The Bancorp worth $7,026,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Advisors LLC lifted its holdings in The Bancorp by 6.5% in the second quarter. Teachers Advisors LLC now owns 111,635 shares of the bank’s stock valued at $846,000 after buying an additional 6,768 shares during the period. Vanguard Group Inc. lifted its holdings 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. Bank of America Corp DE lifted its holdings in The Bancorp by 7.9% in the first quarter. Bank of America Corp DE now owns 555,847 shares of the bank’s stock valued at $2,835,000 after buying an additional 40,680 shares during the period. New York State Common Retirement Fund lifted its holdings in The Bancorp by 32.8% in the second quarter. New York State Common Retirement Fund now owns 49,800 shares of the bank’s stock valued at $377,000 after buying an additional 12,299 shares during the period. Finally, Signia Capital Management LLC lifted its holdings in The Bancorp by 64.4% in the second 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. Institutional investors and hedge funds own 72.69% of the company’s stock.
In other The Bancorp news, Director Daniel G. Cohen sold 250,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $9.53, for a total value of $2,382,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.40% of the stock is currently owned by corporate insiders.
Shares of The Bancorp, Inc. (TBBK) opened at $9.64 on Friday. The Bancorp, Inc. has a 12 month low of $4.41 and a 12 month high of $10.19. 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 equities analysts recently weighed in 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 objective on the stock in a report on Wednesday, November 1st. BidaskClub lowered shares of The Bancorp from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $9.00 price objective on shares of The Bancorp in a report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The Bancorp currently has a consensus rating of “Buy” and an average price target of $8.56.
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The Bancorp 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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