Capital Investment Counsel Inc Reduces Position in The Bancorp, Inc. (NASDAQ:TBBK)

Capital Investment Counsel Inc cut its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 55,639 shares of the bank's stock after selling 10,000 shares during the period. Capital Investment Counsel Inc owned 0.12% of Bancorp worth $2,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC bought a new position in shares of Bancorp during the first quarter valued at approximately $518,000. GAMMA Investing LLC increased its stake in shares of Bancorp by 7,572.1% during the first quarter. GAMMA Investing LLC now owns 77,411 shares of the bank's stock valued at $4,090,000 after purchasing an additional 76,402 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Bancorp during the fourth quarter valued at approximately $3,474,000. Smartleaf Asset Management LLC increased its stake in shares of Bancorp by 191.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank's stock valued at $40,000 after purchasing an additional 489 shares in the last quarter. Finally, Emerald Advisers LLC bought a new position in shares of Bancorp during the fourth quarter valued at approximately $17,692,000. Institutional investors own 96.22% of the company's stock.

Bancorp Stock Up 1.1%

Shares of TBBK traded up $0.65 on Friday, hitting $58.86. 421,899 shares of the stock traded hands, compared to its average volume of 567,745. The company has a market capitalization of $2.75 billion, a PE ratio of 13.29 and a beta of 1.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.88 and a current ratio of 0.91. The business has a 50 day simple moving average of $52.71 and a 200 day simple moving average of $53.04. The Bancorp, Inc. has a one year low of $38.21 and a one year high of $65.84.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). Bancorp had a return on equity of 27.31% and a net margin of 28.45%. The company had revenue of $175.39 million during the quarter, compared to the consensus estimate of $108.88 million. As a group, equities analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TBBK. Keefe, Bruyette & Woods downgraded shares of Bancorp from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $70.00 to $65.00 in a research report on Thursday, June 12th. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st.

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.