The Bancorp, Inc. (NASDAQ:TBBK) Stake Trimmed by Sippican Capital Advisors

Sippican Capital Advisors cut its position in The Bancorp, Inc. (NASDAQ:TBBK) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 156,521 shares of the bank’s stock after selling 760 shares during the period. Bancorp comprises 6.2% of Sippican Capital Advisors’ portfolio, making the stock its largest holding. Sippican Capital Advisors’ holdings in Bancorp were worth $8,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its position in shares of Bancorp by 1.2% during the first quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank’s stock valued at $1,017,000 after buying an additional 236 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in Bancorp by 2.6% in the 4th quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock valued at $508,000 after acquiring an additional 242 shares during the last quarter. Napa Wealth Management lifted its stake in Bancorp by 3.8% in the 4th quarter. Napa Wealth Management now owns 6,940 shares of the bank’s stock worth $365,000 after purchasing an additional 255 shares in the last quarter. First Hawaiian Bank boosted its holdings in shares of Bancorp by 3.3% during the 1st quarter. First Hawaiian Bank now owns 12,136 shares of the bank’s stock valued at $641,000 after purchasing an additional 385 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Bancorp by 3.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock valued at $635,000 after purchasing an additional 408 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TBBK. Wall Street Zen cut Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Keefe, Bruyette & Woods downgraded Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $70.00 to $65.00 in a research note on Thursday, June 12th.

Bancorp Price Performance

TBBK stock opened at $58.16 on Wednesday. The Bancorp, Inc. has a 52 week low of $37.65 and a 52 week high of $65.84. The firm has a market capitalization of $2.72 billion, a P/E ratio of 13.13 and a beta of 1.25. The company has a fifty day simple moving average of $52.11 and a two-hundred day simple moving average of $52.97. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.15.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). The business had revenue of $175.39 million for the quarter, compared to analysts’ expectations of $108.88 million. Bancorp had a net margin of 28.45% and a return on equity of 27.31%. Analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

About Bancorp

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.