Summit Asset Management LLC Invests $202,000 in The Bancorp, Inc. (NASDAQ:TBBK)

Summit Asset Management LLC bought a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 5,250 shares of the bank’s stock, valued at approximately $202,000.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC lifted its stake in Bancorp by 3.3% during the 3rd quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock valued at $168,355,000 after acquiring an additional 157,987 shares during the period. Brown Advisory Inc. raised its holdings in shares of Bancorp by 3.0% during the third quarter. Brown Advisory Inc. now owns 1,445,705 shares of the bank’s stock worth $49,877,000 after purchasing an additional 42,321 shares during the last quarter. American Century Companies Inc. lifted its position in Bancorp by 21.9% during the third quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after purchasing an additional 175,854 shares during the period. Epoch Investment Partners Inc. boosted its holdings in Bancorp by 80.7% in the third quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after purchasing an additional 323,986 shares during the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Bancorp by 9.7% in the third quarter. Kennedy Capital Management LLC now owns 703,454 shares of the bank’s stock valued at $24,269,000 after purchasing an additional 62,104 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Trading Down 0.6 %

Shares of TBBK traded down $0.18 during mid-day trading on Thursday, reaching $31.09. The stock had a trading volume of 155,581 shares, compared to its average volume of 652,967. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.02 and a quick ratio of 0.98. The business’s fifty day moving average is $35.24 and its 200 day moving average is $37.90. The Bancorp, Inc. has a 52-week low of $28.04 and a 52-week high of $47.11. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 8.50 and a beta of 1.43.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, meeting the consensus estimate of $1.06. Bancorp had a net margin of 39.94% and a return on equity of 26.32%. During the same period in the previous year, the business posted $0.88 earnings per share. On average, sell-side analysts predict that The Bancorp, Inc. will post 4.51 EPS for the current fiscal year.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn acquired 2,485 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $34.21 per share, with a total value of $85,011.85. Following the transaction, the director now owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, Director Matthew Cohn acquired 2,485 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $34.21 per share, with a total value of $85,011.85. Following the completion of the purchase, the director now owns 157,627 shares of the company’s stock, valued at approximately $5,392,419.67. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephanie B. Mudick purchased 2,000 shares of Bancorp stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the transaction, the director now directly owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. 5.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TBBK. Raymond James lifted their price target on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, January 29th. Keefe, Bruyette & Woods reduced their price target on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a research report on Friday, April 5th. Finally, StockNews.com upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Monday.

Bancorp Company Profile

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, National Association that provides banking products and services in the United States. It offers a range of deposit products and services, including checking, savings, time, money market, and commercial accounts; overdrafts; and certificates of deposit.