ClariVest Asset Management LLC decreased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 60.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,904 shares of the bank’s stock after selling 44,900 shares during the period. ClariVest Asset Management LLC owned approximately 0.05% of The Bancorp worth $250,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in The Bancorp by 10.6% in the second quarter. Vanguard Group Inc. now owns 2,768,536 shares of the bank’s stock worth $27,132,000 after buying an additional 265,523 shares during the last quarter. Rutabaga Capital Management LLC MA boosted its position in The Bancorp by 8.5% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,182,984 shares of the bank’s stock valued at $11,593,000 after purchasing an additional 92,313 shares during the period. Nuveen Asset Management LLC boosted its position in The Bancorp by 21.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,006,653 shares of the bank’s stock valued at $9,865,000 after purchasing an additional 175,366 shares during the period. Goldman Sachs Group Inc. boosted its position in The Bancorp by 13.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 932,159 shares of the bank’s stock valued at $9,136,000 after purchasing an additional 108,800 shares during the period. Finally, Prudential Financial Inc. boosted its position in The Bancorp by 13.3% during the 2nd quarter. Prudential Financial Inc. now owns 752,945 shares of the bank’s stock valued at $7,379,000 after purchasing an additional 88,224 shares during the period. 81.39% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director John C. Chrystal sold 51,465 shares of the company’s stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $11.51, for a total transaction of $592,362.15. Corporate insiders own 10.90% of the company’s stock.
Shares of The Bancorp stock opened at $11.42 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.83 and a debt-to-equity ratio of 0.10. The firm has a market cap of $657.40 million, a price-to-earnings ratio of 11.89 and a beta of 1.55. The business has a fifty day simple moving average of $9.85 and a 200-day simple moving average of $9.09. The Bancorp, Inc. has a fifty-two week low of $3.36 and a fifty-two week high of $13.73.
The Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 29th. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.37 by $0.03. The Bancorp had a return on equity of 13.07% and a net margin of 19.19%. Analysts anticipate that The Bancorp, Inc. will post 1.31 earnings per share for the current fiscal year.
The Bancorp Profile
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, insurance policy cash value-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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