Loomis Sayles & Co. L P Makes New Investment in The Bancorp, Inc. (NASDAQ:TBBK)

Loomis Sayles & Co. L P purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 1st quarter, Holdings Channel reports. The firm purchased 1,625,671 shares of the bank’s stock, valued at approximately $33,684,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TBBK. Bank of New York Mellon Corp grew its holdings in The Bancorp by 14.3% during the 4th quarter. Bank of New York Mellon Corp now owns 265,344 shares of the bank’s stock worth $3,622,000 after acquiring an additional 33,177 shares in the last quarter. Rhumbline Advisers grew its holdings in The Bancorp by 12.2% during the 4th quarter. Rhumbline Advisers now owns 96,176 shares of the bank’s stock worth $1,313,000 after acquiring an additional 10,429 shares in the last quarter. Citigroup Inc. grew its holdings in The Bancorp by 72.6% during the 4th quarter. Citigroup Inc. now owns 12,719 shares of the bank’s stock worth $173,000 after acquiring an additional 5,349 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of The Bancorp by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 340,180 shares of the bank’s stock worth $4,644,000 after buying an additional 5,771 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of The Bancorp during the 4th quarter worth approximately $911,000. Institutional investors own 86.32% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of The Bancorp from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday.

TBBK stock opened at $22.03 on Thursday. The firm has a fifty day simple moving average of $23.80. The Bancorp, Inc. has a 12 month low of $7.95 and a 12 month high of $26.70. The stock has a market cap of $1.26 billion, a P/E ratio of 13.77 and a beta of 1.41. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.66 and a current ratio of 0.92.

The Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Wednesday, April 28th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The Bancorp had a net margin of 30.31% and a return on equity of 16.48%. The firm had revenue of $77.83 million during the quarter, compared to the consensus estimate of $77.44 million. As a group, research analysts anticipate that The Bancorp, Inc. will post 1.76 EPS for the current year.

In other The Bancorp news, Director Walter T. Beach sold 10,000 shares of the company’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $24.14, for a total transaction of $241,400.00. Following the completion of the transaction, the director now owns 35,842 shares in the company, valued at approximately $865,225.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Walter T. Beach sold 22,000 shares of the company’s stock in a transaction on Tuesday, May 25th. The stock was sold at an average price of $23.46, for a total transaction of $516,120.00. Following the transaction, the director now owns 59,884 shares of the company’s stock, valued at approximately $1,404,878.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,820 shares of company stock valued at $1,860,092. 4.50% of the stock is owned by insiders.

The Bancorp Company 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, and commercial 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.

See Also: Growth and Income Funds

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Institutional Ownership by Quarter for The Bancorp (NASDAQ:TBBK)

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