The Bancorp, Inc. $TBBK Position Reduced by Sippican Capital Advisors

Sippican Capital Advisors lessened its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 155,951 shares of the bank’s stock after selling 570 shares during the quarter. Bancorp accounts for 6.5% of Sippican Capital Advisors’ investment portfolio, making the stock its biggest position. Sippican Capital Advisors owned 0.33% of Bancorp worth $8,885,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TBBK. Invesco Ltd. grew its holdings in Bancorp by 20.7% in the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank’s stock worth $143,354,000 after acquiring an additional 466,139 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in Bancorp by 741.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank’s stock worth $22,665,000 after acquiring an additional 377,993 shares during the last quarter. American Century Companies Inc. grew its holdings in Bancorp by 9.8% in the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank’s stock worth $138,908,000 after acquiring an additional 235,303 shares during the last quarter. Nuveen LLC bought a new stake in Bancorp in the 1st quarter worth $11,417,000. Finally, Emerald Advisers LLC grew its holdings in Bancorp by 63.1% in the 1st quarter. Emerald Advisers LLC now owns 548,269 shares of the bank’s stock worth $28,971,000 after acquiring an additional 212,102 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Barclays reaffirmed a “buy” rating on shares of Bancorp in a research note on Monday, July 7th. Jefferies Financial Group raised shares of Bancorp to a “buy” rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price on shares of Bancorp in a research note on Friday, July 18th. Finally, Raymond James Financial raised shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Buying and Selling at Bancorp

In other news, COO Gregor J. Garry sold 12,532 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $75.14, for a total value of $941,654.48. Following the transaction, the chief operating officer owned 110,107 shares in the company, valued at approximately $8,273,439.98. This represents a 10.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Ryan Harris sold 9,841 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the completion of the transaction, the executive vice president owned 129,598 shares in the company, valued at approximately $9,897,399.26. This represents a 7.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,462 shares of company stock worth $157,786 and sold 322,841 shares worth $20,990,025. Corporate insiders own 5.60% of the company’s stock.

Bancorp Trading Down 5.6%

NASDAQ:TBBK opened at $72.56 on Friday. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $80.76. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The company’s 50-day simple moving average is $73.25 and its 200 day simple moving average is $60.64. The firm has a market capitalization of $3.34 billion, a P/E ratio of 15.60 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. As a group, analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Bancorp Profile

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.