Gallacher Capital Management LLC Raises Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Gallacher Capital Management LLC grew its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 25.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,189 shares of the bank’s stock after acquiring an additional 2,044 shares during the quarter. Gallacher Capital Management LLC’s holdings in Bancorp were worth $393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in Bancorp by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 468,733 shares of the bank’s stock valued at $16,171,000 after purchasing an additional 15,430 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Bancorp by 26.0% in the 3rd quarter. New York State Teachers Retirement System now owns 22,283 shares of the bank’s stock worth $769,000 after buying an additional 4,600 shares during the period. Roubaix Capital LLC purchased a new stake in Bancorp in the 3rd quarter worth $3,064,000. Whittier Trust Co. boosted its stake in shares of Bancorp by 4.3% in the third quarter. Whittier Trust Co. now owns 124,468 shares of the bank’s stock worth $4,294,000 after acquiring an additional 5,124 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Bancorp by 2.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 67,176 shares of the bank’s stock worth $2,318,000 after purchasing an additional 1,737 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Bancorp news, Director Matthew Cohn acquired 2,485 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $34.21 per share, with a total value of $85,011.85. Following the transaction, the director now directly owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Bancorp news, Director Stephanie B. Mudick acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, with a total value of $74,220.00. Following the acquisition, the director now directly owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matthew Cohn acquired 2,485 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were purchased at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the purchase, the director now directly owns 157,627 shares in the company, valued at $5,392,419.67. The disclosure for this purchase can be found here. Insiders have bought a total of 4,715 shares of company stock valued at $166,189 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Bancorp Trading Up 1.2 %

TBBK stock traded up $0.37 during midday trading on Monday, reaching $32.29. 477,515 shares of the company traded hands, compared to its average volume of 655,605. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 8.67 and a beta of 1.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The business has a 50 day moving average of $34.77 and a 200-day moving average of $37.88. The Bancorp, Inc. has a 52-week low of $28.41 and a 52-week high of $47.11.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) 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. As a group, sell-side analysts expect that The Bancorp, Inc. will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

TBBK has been the subject of a number of research analyst reports. Raymond James increased their price objective on shares of Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 29th. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th.

Bancorp 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.