Heartland Advisors Inc. Trims Position in The Bancorp, Inc. (TBBK)

Heartland Advisors Inc. lowered its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,693,800 shares of the bank’s stock after selling 105,000 shares during the period. The Bancorp comprises about 0.9% of Heartland Advisors Inc.’s portfolio, making the stock its 24th biggest position. Heartland Advisors Inc. owned about 3.04% of The Bancorp worth $14,008,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TBBK. Frontier Capital Management Co. LLC bought a new stake in The Bancorp during the 2nd quarter worth $12,162,000. Emerald Mutual Fund Advisers Trust bought a new stake in The Bancorp during the 2nd quarter worth $3,063,000. Signia Capital Management LLC grew its position in The Bancorp by 64.4% during the 2nd quarter. Signia Capital Management LLC now owns 1,006,430 shares of the bank’s stock worth $7,628,000 after acquiring an additional 394,183 shares during the last quarter. Dimensional Fund Advisors LP grew its position in The Bancorp by 9.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,687,237 shares of the bank’s stock worth $20,370,000 after acquiring an additional 233,451 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in The Bancorp by 60.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 484,586 shares of the bank’s stock worth $3,673,000 after acquiring an additional 181,971 shares during the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Shares of The Bancorp, Inc. (NASDAQ:TBBK) traded down 1.04% during midday trading on Monday, reaching $8.55. The company had a trading volume of 7,489 shares. The company has a 50 day moving average of $8.24 and a 200 day moving average of $7.26. The Bancorp, Inc. has a one year low of $4.41 and a one year high of $9.00. The company’s market capitalization is $476.72 million.

The Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04. The Bancorp had a negative return on equity of 1.70% and a negative net margin of 16.27%. The firm had revenue of $45.39 million for the quarter, compared to analysts’ expectations of $42.40 million. Analysts predict that The Bancorp, Inc. will post $0.48 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on TBBK shares. Zacks Investment Research lowered The Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Piper Jaffray Companies restated a “hold” rating and set a $6.50 price objective on shares of The Bancorp in a research report on Friday, July 14th. BidaskClub lowered The Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, July 19th. UBS AG upgraded The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, Raymond James Financial, Inc. upgraded The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $7.75.

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In related news, Director Castle Creek Capital Partners acquired 225,000 shares of The Bancorp stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of $7.41 per share, with a total value of $1,667,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Walter T. Beach sold 106,784 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total value of $826,508.16. Following the transaction, the director now directly owns 122,640 shares in the company, valued at $949,233.60. The disclosure for this sale can be found here. Insiders have bought 323,700 shares of company stock worth $2,409,100 over the last ninety days. Insiders own 12.40% of the company’s stock.

The Bancorp Company 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).

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

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