Eidelman Virant Capital Buys 40,000 Shares of The Bancorp, Inc. (TBBK)

Eidelman Virant Capital increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 58.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 109,000 shares of the bank’s stock after acquiring an additional 40,000 shares during the period. Eidelman Virant Capital owned about 0.20% of The Bancorp worth $901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CAPROCK Group Inc. bought a new position in The Bancorp during the 3rd quarter valued at approximately $106,000. American International Group Inc. raised its position in The Bancorp by 51.8% during the 1st quarter. American International Group Inc. now owns 30,605 shares of the bank’s stock valued at $156,000 after purchasing an additional 10,447 shares during the last quarter. Goldman Sachs Group Inc. raised its position in The Bancorp by 55.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 30,510 shares of the bank’s stock valued at $156,000 after purchasing an additional 10,895 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in The Bancorp by 0.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,000 shares of the bank’s stock valued at $167,000 after purchasing an additional 117 shares during the last quarter. Finally, Voya Investment Management LLC raised its position in The Bancorp by 20.4% during the 2nd quarter. Voya Investment Management LLC now owns 24,779 shares of the bank’s stock valued at $188,000 after purchasing an additional 4,203 shares during the last quarter. 75.18% of the stock is owned by institutional investors.

The Bancorp, Inc. (NASDAQ TBBK) traded up 1.43% on Wednesday, reaching $8.53. The company’s stock had a trading volume of 186,255 shares. 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 $475.61 million. The firm has a 50-day moving average of $8.27 and a 200-day moving average of $7.33.

In other news, Director Walter T. Beach sold 106,784 shares of The Bancorp stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $7.74, for a total transaction of $826,508.16. Following the completion of the sale, the director now owns 122,640 shares of the company’s stock, valued at $949,233.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ron J. Wechsler sold 5,000 shares of The Bancorp stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $7.61, for a total transaction of $38,050.00. Following the sale, the executive vice president now directly owns 43,299 shares of the company’s stock, valued at approximately $329,505.39. The disclosure for this sale can be found here. In the last three months, insiders acquired 323,700 shares of company stock valued at $2,409,100. 12.40% of the stock is owned by insiders.

A number of research firms have commented on TBBK. Zacks Investment Research raised The Bancorp from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday. BidaskClub lowered The Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. UBS AG raised The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Raymond James Financial, Inc. raised The Bancorp from a “market perform” rating to an “outperform” rating in a research report on Monday, July 31st. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $6.50 price target on shares of The Bancorp in a research report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $7.94.

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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).

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

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