Sippican Capital Advisors Trims Stake in Bancorp Inc (TBBK)

Sippican Capital Advisors cut its position in Bancorp Inc (NASDAQ:TBBK) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,081 shares of the bank’s stock after selling 16,125 shares during the quarter. Bancorp comprises about 2.8% of Sippican Capital Advisors’ portfolio, making the stock its 2nd biggest holding. Sippican Capital Advisors owned approximately 0.51% of Bancorp worth $2,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TBBK. Millennium Management LLC lifted its position in shares of Bancorp by 71.5% during the 4th quarter. Millennium Management LLC now owns 446,184 shares of the bank’s stock valued at $3,552,000 after acquiring an additional 186,015 shares during the period. Renaissance Technologies LLC increased its stake in shares of Bancorp by 50.2% in the third quarter. Renaissance Technologies LLC now owns 537,400 shares of the bank’s stock valued at $5,154,000 after buying an additional 179,700 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Bancorp by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,599,652 shares of the bank’s stock valued at $34,521,000 after purchasing an additional 151,079 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Bancorp by 39.4% during the 4th quarter. Bank of New York Mellon Corp now owns 382,241 shares of the bank’s stock valued at $3,043,000 after purchasing an additional 107,988 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Bancorp by 14.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 737,158 shares of the bank’s stock valued at $5,868,000 after purchasing an additional 92,878 shares in the last quarter. Institutional investors and hedge funds own 79.36% of the company’s stock.

NASDAQ:TBBK traded down $0.08 during mid-day trading on Wednesday, reaching $8.50. 1,928 shares of the company’s stock traded hands, compared to its average volume of 128,682. Bancorp Inc has a 12-month low of $7.64 and a 12-month high of $12.00. The company has a market cap of $479.98 million, a PE ratio of 12.36 and a beta of 1.19. 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 (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.07). The business had revenue of $47.30 million for the quarter, compared to analysts’ expectations of $50.19 million. Bancorp had a net margin of 29.39% and a return on equity of 10.83%. Analysts expect that Bancorp Inc will post 0.88 EPS for the current fiscal year.

Several brokerages have issued reports on TBBK. Zacks Investment Research upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 2nd. BidaskClub downgraded Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. ValuEngine downgraded Bancorp from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 20th. Finally, TheStreet lowered Bancorp from a “b-” rating to a “c” rating in a report on Monday, April 8th.

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About Bancorp

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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Institutional Ownership by Quarter for Bancorp (NASDAQ:TBBK)

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