Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc.
Share Price & News
How has Bancroft Fund's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BCV's share price has been volatile over the past 3 months.
7 Day Return
US Capital Markets
1 Year Return
US Capital Markets
Return vs Industry: BCV underperformed the US Capital Markets industry which returned -9.8% over the past year.
Return vs Market: BCV underperformed the US Market which returned -9.1% over the past year.
Price Volatility Vs. Market
How volatile is Bancroft Fund's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Is Bancroft Fund undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BCV ($19) is trading below our estimate of fair value ($31.36)
Significantly Below Fair Value: BCV is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: BCV is good value based on its PE Ratio (4.5x) compared to the Capital Markets industry average (28.9x).
PE vs Market: BCV is good value based on its PE Ratio (4.5x) compared to the US market (13.4x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate BCV's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: BCV is good value based on its PB Ratio (0.7x) compared to the US Capital Markets industry average (6.7x).
How is Bancroft Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Diversified Financials industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Bancroft Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has Bancroft Fund performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BCV has a large one-off gain of $21.5M impacting its October 31 2019 financial results.
Growing Profit Margin: BCV's current net profit margins are higher than last year .
Past Earnings Growth Analysis
Earnings Trend: BCV's earnings have grown significantly by 24.6% per year over the past 5 years.
Accelerating Growth: BCV's earnings growth over the past year (289.1%) exceeds its 5-year average (24.6% per year).
Earnings vs Industry: BCV earnings growth over the past year (289.1%) exceeded the Capital Markets industry 10.6%.
Return on Equity
High ROE: BCV's Return on Equity (14.3%) is considered low.
How is Bancroft Fund's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Inventory Level: BCV has a low level of unsold assets or inventory.
Debt Coverage by Assets: Insufficient data to determine if BCV's debt is covered by short term assets.
Financial Institutions Analysis
Asset Level: BCV's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if BCV has a sufficient allowance for bad loans.
Low Risk Liabilities: BCV reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if BCV has an acceptable proportion of non-loan assets held.
Low Risk Deposits: BCV has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if BCV has an appropriate level of bad loans.
What is Bancroft Fund's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BCV's dividend (9.05%) is higher than the bottom 25% of dividend payers in the US market (1.93%).
High Dividend: BCV's dividend (9.05%) is in the top 25% of dividend payers in the US market (5.33%)
Stability and Growth of Payments
Stable Dividend: BCV's dividend payments have been volatile in the past 10 years.
Growing Dividend: BCV's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (40.9%), BCV's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Bancroft Fund has no CEO, or we have no data on them.
|Independent Trustee||23.17yrs||US$22.00k||0.0048% $4.8k|
|Independent Trustee||30.17yrs||US$21.00k||0.073% $72.7k|
|Independent Trustee||13.17yrs||US$22.50k||0.030% $29.9k|
|Independent Trustee||12.17yrs||US$20.50k||0.072% $72.0k|
Experienced Board: BCV's board of directors are seasoned and experienced ( 18.2 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: BCV insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.7%.
Bancroft Fund Ltd.'s company bio, employee growth, exchange listings and data sources
- Name: Bancroft Fund Ltd.
- Ticker: BCV
- Exchange: AMEX
- Founded: 1971
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Market Cap: US$99.854m
- Shares outstanding: 5.26m
- Website: https://www.gabelli.com/Template/fundinfo.cfm?tid=NzZjZjM=&bid=OTA3YQ==&mid=NGNlN2E=&num=NWRhZWU=&kid=NTVhZGY=&fid=NTNiMDc=&rid=321-=edoc_dnuf
- Bancroft Fund Ltd.
- One Corporate Center
- New York
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|BCV||AMEX (NYSE MKT LLC)||Yes||Common Shares||US||USD||Nov 1971|
|BCV.PRA||AMEX (NYSE MKT LLC)||PFD CUM SER A||US||USD||Aug 2016|
Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc. It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets. It primarily invests in convertible securities including convertible debt and convertible preferred stocks. The fund invests in stocks of companies across market capitalization. It benchmarks the performance of its portfolio against S&P 500 Index, Bank of America Merrill Lynch All U.S. Convertibles Index, and Barclays Balanced U.S. Convertibles Index. The fund was formerly known as Bancroft Convertible Fund, Inc. Bancroft Fund Ltd. was formed on April 20, 1971 and is domiciled in the United States.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/28 01:19|
|End of Day Share Price||2020/03/27 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.