John W. Rosenthal Capital Management Inc. lowered its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 328,636 shares of the bank’s stock after selling 10,000 shares during the period. The Bancorp accounts for approximately 6.1% of John W. Rosenthal Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. John W. Rosenthal Capital Management Inc. owned 0.57% of The Bancorp worth $7,562,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of The Bancorp by 74.6% during the 2nd quarter. BlackRock Inc. now owns 8,353,971 shares of the bank’s stock valued at $192,225,000 after buying an additional 3,569,078 shares during the last quarter. Acuitas Investments LLC grew its position in shares of The Bancorp by 953.4% during the 2nd quarter. Acuitas Investments LLC now owns 2,396,307 shares of the bank’s stock valued at $104,000 after buying an additional 2,168,832 shares during the last quarter. Loomis Sayles & Co. L P acquired a new position in The Bancorp during the 1st quarter valued at about $33,684,000. Brown Advisory Inc. acquired a new position in The Bancorp during the 1st quarter valued at about $18,483,000. Finally, Principal Financial Group Inc. acquired a new position in The Bancorp during the 2nd quarter valued at about $10,283,000. 91.03% of the stock is owned by institutional investors.
In related news, Director Michael J. Bradley sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 9th. The shares were sold at an average price of $24.45, for a total transaction of $1,222,500.00. Following the completion of the sale, the director now directly owns 49,884 shares of the company’s stock, valued at $1,219,663.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Damian Kozlowski sold 168,900 shares of the stock in a transaction that occurred on Thursday, August 19th. The shares were sold at an average price of $23.13, for a total transaction of $3,906,657.00. Following the sale, the chief executive officer now directly owns 866,311 shares of the company’s stock, valued at $20,037,773.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,603 shares of company stock valued at $5,784,182. Company insiders own 4.50% of the company’s stock.
The Bancorp (NASDAQ:TBBK) last posted its earnings results on Wednesday, July 28th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.07. The firm had revenue of $79.93 million during the quarter, compared to analyst estimates of $76.98 million. The Bancorp had a net margin of 32.24% and a return on equity of 17.38%. Analysts anticipate that The Bancorp, Inc. will post 1.79 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of The Bancorp from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research note on Thursday, July 22nd.
The Bancorp Company Profile
The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance consists of commercial mortgage loan sales and securitizations, small business administration loans; direct lease financing; and security and insurance backed lines of credit and deposits generated by business lines.
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