Trade Report: Today, The Bancorp Inc. (TBBK) Short Interest Up 79.4% in November

Today, The Bancorp Inc. (TBBK) Short Interest Up 79.4% in November

The Bancorp Inc. (NASDAQ:TBBK) was the target of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,860,179 shares, a growth of 79.4% from the October 31st total of 1,036,919 shares. Based on an average trading volume of 480,850 shares, the days-to-cover ratio is currently 3.9 days. Currently, 3.5% of the shares of the company are short sold.

Shares of The Bancorp (NASDAQ:TBBK) opened at 7.43 on Tuesday. The Bancorp has a 12 month low of $3.88 and a 12 month high of $7.88. The firm’s 50 day moving average is $6.92 and its 200 day moving average is $6.25. The stock’s market capitalization is $411.02 million.

In other news, CFO Frenkiel Paul acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were purchased at an average cost of $4.50 per share, for a total transaction of $45,000.00. Following the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at approximately $90,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hersh Kozlov acquired 7,500 shares of the stock in a transaction that occurred on Thursday, November 3rd. The stock was purchased at an average price of $6.65 per share, for a total transaction of $49,875.00. Following the completion of the transaction, the director now owns 50,000 shares in the company, valued at $332,500. The disclosure for this purchase can be found here. 7.71% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in TBBK. Nantahala Capital Management LLC raised its stake in The Bancorp by 177.2% in the third quarter. Nantahala Capital Management LLC now owns 4,229,213 shares of the company’s stock valued at $27,152,000 after buying an additional 2,703,426 shares in the last quarter. Wells Fargo & Company MN raised its stake in The Bancorp by 22.0% in the third quarter. Wells Fargo & Company MN now owns 2,288,740 shares of the company’s stock valued at $14,693,000 after buying an additional 412,551 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in The Bancorp by 19.3% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 2,195,052 shares of the company’s stock valued at $13,214,000 after buying an additional 354,588 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in The Bancorp by 1.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,908,806 shares of the company’s stock valued at $11,491,000 after buying an additional 24,480 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in The Bancorp by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,051,833 shares of the company’s stock valued at $6,332,000 after buying an additional 22,189 shares in the last quarter. Institutional investors own 66.46% of the company’s stock.

TBBK has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of The Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. TheStreet lowered shares of The Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. Finally, Raymond James Financial Inc. upgraded shares of The Bancorp from a “market perform” rating to a “strong-buy” rating and set a $6.50 price objective on the stock in a research report on Tuesday, August 9th.

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