Allianz Asset Management GmbH bought a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 176,785 shares of the bank’s stock, valued at approximately $1,462,000. Allianz Asset Management GmbH owned 0.32% of The Bancorp as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its holdings in shares of The Bancorp by 9.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,936,235 shares of the bank’s stock worth $24,283,000 after buying an additional 248,998 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in shares of The Bancorp by 33.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,136,489 shares of the bank’s stock worth $17,669,000 after buying an additional 531,976 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of The Bancorp by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 2,087,441 shares of the bank’s stock worth $10,646,000 after buying an additional 90,800 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in shares of The Bancorp by 5.9% during the 2nd quarter. Heartland Advisors Inc. now owns 1,798,800 shares of the bank’s stock worth $13,635,000 after buying an additional 100,000 shares in the last quarter. Finally, Signia Capital Management LLC boosted its holdings in shares of 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 buying an additional 394,183 shares in the last quarter. 72.84% of the stock is owned by institutional investors and hedge funds.
In related news, Director John C. Chrystal sold 62,285 shares of the stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $9.65, for a total value of $601,050.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Daniel G. Cohen sold 250,000 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $9.53, for a total value of $2,382,500.00. The disclosure for this sale can be found here. 12.40% of the stock is owned by company insiders.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded The Bancorp from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Friday, December 22nd. Piper Jaffray Companies restated a “hold” rating and set a $9.00 price target on shares of The Bancorp in a report on Friday, November 10th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.94.
TRADEMARK VIOLATION NOTICE: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.com-unik.info/2017/12/27/allianz-asset-management-gmbh-buys-shares-of-176785-the-bancorp-inc-tbbk.html.
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).
What are top analysts saying about The Bancorp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for The Bancorp and related companies.