Sippican Capital Advisors lessened its holdings in Bancorp Inc (NASDAQ:TBBK) by 5.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 288,081 shares of the bank’s stock after selling 16,125 shares during the period. Bancorp accounts for approximately 2.8% of Sippican Capital Advisors’ holdings, making the stock its 2nd biggest position. Sippican Capital Advisors’ holdings in Bancorp were worth $2,328,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Bancorp during the 4th quarter valued at about $89,000. Acadian Asset Management LLC lifted its holdings in shares of Bancorp by 26.4% in the 4th quarter. Acadian Asset Management LLC now owns 183,504 shares of the bank’s stock valued at $1,461,000 after acquiring an additional 38,343 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Bancorp in the 3rd quarter valued at about $231,000. Globeflex Capital L P lifted its holdings in shares of Bancorp by 78.8% in the 4th quarter. Globeflex Capital L P now owns 16,986 shares of the bank’s stock valued at $135,000 after acquiring an additional 7,486 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in shares of Bancorp by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 210,486 shares of the bank’s stock valued at $2,019,000 after acquiring an additional 7,952 shares during the last quarter. Institutional investors and hedge funds own 79.36% of the company’s stock.
Bancorp stock traded down $0.08 during midday trading on Wednesday, reaching $8.50. The stock had a trading volume of 1,928 shares, compared to its average volume of 128,682. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.70 and a quick ratio of 0.52. Bancorp Inc has a 52-week low of $7.64 and a 52-week high of $12.00. The firm has a market capitalization of $479.98 million, a P/E ratio of 12.36 and a beta of 1.19.
Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.07). Bancorp had a return on equity of 10.83% and a net margin of 29.39%. The firm had revenue of $47.30 million during the quarter, compared to analysts’ expectations of $50.19 million. Research analysts anticipate that Bancorp Inc will post 0.88 earnings per share for the current fiscal year.
TBBK has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Bancorp from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a report on Friday, January 11th. TheStreet downgraded shares of Bancorp from a “b-” rating to a “c” rating in a report on Monday, April 8th. BidaskClub raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Finally, ValuEngine raised shares of Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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