Sippican Capital Advisors Reduces Stake in The Bancorp, Inc. $TBBK

Sippican Capital Advisors lessened its position in The Bancorp, Inc. (NASDAQ:TBBK) by 0.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 155,951 shares of the bank’s stock after selling 570 shares during the period. Bancorp comprises about 6.5% of Sippican Capital Advisors’ investment portfolio, making the stock its biggest holding. Sippican Capital Advisors’ holdings in Bancorp were worth $8,885,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS raised its holdings in shares of Bancorp by 11.2% during the second quarter. KLP Kapitalforvaltning AS now owns 9,900 shares of the bank’s stock valued at $564,000 after purchasing an additional 1,000 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Bancorp during the second quarter valued at approximately $968,000. Janney Montgomery Scott LLC raised its holdings in shares of Bancorp by 5.6% during the second quarter. Janney Montgomery Scott LLC now owns 6,575 shares of the bank’s stock valued at $375,000 after purchasing an additional 350 shares during the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 19,564 shares of the bank’s stock valued at $1,115,000 after purchasing an additional 318 shares during the last quarter. Finally, Kendall Capital Management raised its holdings in shares of Bancorp by 1.9% during the second quarter. Kendall Capital Management now owns 17,270 shares of the bank’s stock valued at $984,000 after purchasing an additional 325 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Stock Down 5.6%

Shares of TBBK stock opened at $72.56 on Friday. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $80.76. The stock has a market cap of $3.34 billion, a P/E ratio of 15.60 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $73.25 and a two-hundred day simple moving average of $60.64.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. On average, research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TBBK. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. Morgan Stanley reissued an “overweight” rating and set a $52.00 price objective on shares of Bancorp in a report on Friday, July 18th. Weiss Ratings cut shares of Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Jefferies Financial Group raised shares of Bancorp to a “buy” rating in a report on Monday, July 7th. Finally, Barclays reaffirmed a “buy” rating on shares of Bancorp in a report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Insider Activity

In other news, CEO Damian Kozlowski sold 39,659 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the completion of the sale, the chief executive officer directly owned 657,656 shares of the company’s stock, valued at $41,261,337.44. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Cohn acquired 550 shares of Bancorp stock in a transaction dated Monday, August 4th. The stock was purchased at an average cost of $63.51 per share, with a total value of $34,930.50. Following the completion of the purchase, the director owned 1,900 shares of the company’s stock, valued at approximately $120,669. This represents a 40.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. Corporate insiders own 5.60% of the company’s stock.

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.