Millennium Management LLC Has $3.55 Million Holdings in Bancorp Inc (TBBK)

Millennium Management LLC lifted its position in shares of Bancorp Inc (NASDAQ:TBBK) by 71.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,184 shares of the bank’s stock after acquiring an additional 186,015 shares during the quarter. Millennium Management LLC owned 0.79% of Bancorp worth $3,552,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. QS Investors LLC lifted its stake in Bancorp by 1.1% in the 4th quarter. QS Investors LLC now owns 120,816 shares of the bank’s stock valued at $962,000 after buying an additional 1,300 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in Bancorp by 7.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 35,250 shares of the bank’s stock valued at $281,000 after buying an additional 2,440 shares in the last quarter. United Services Automobile Association lifted its stake in Bancorp by 17.0% in the 4th quarter. United Services Automobile Association now owns 17,186 shares of the bank’s stock valued at $137,000 after buying an additional 2,494 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Bancorp by 7.0% in the 4th quarter. Squarepoint Ops LLC now owns 92,826 shares of the bank’s stock valued at $739,000 after buying an additional 6,084 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in Bancorp by 38.4% in the 4th quarter. Citigroup Inc. now owns 25,756 shares of the bank’s stock valued at $205,000 after buying an additional 7,142 shares in the last quarter. 79.36% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on TBBK. Zacks Investment Research upgraded Bancorp from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Tuesday, April 30th. BidaskClub upgraded Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. ValuEngine upgraded Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 24th. Finally, TheStreet downgraded Bancorp from a “b-” rating to a “c” rating in a report on Monday, April 8th.

TBBK traded down $0.07 during trading on Friday, hitting $10.07. The company’s stock had a trading volume of 81,700 shares, compared to its average volume of 170,678. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.52 and a current ratio of 0.70. The company has a market capitalization of $572.59 million, a PE ratio of 14.59 and a beta of 1.30. Bancorp Inc has a twelve month low of $7.64 and a twelve month high of $12.00.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The company had revenue of $64.38 million during the quarter, compared to the consensus estimate of $60.19 million. Bancorp had a return on equity of 11.39% and a net margin of 29.39%. As a group, equities research analysts forecast that Bancorp Inc will post 0.95 earnings per share for the current fiscal year.

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Bancorp Profile

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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