Millennium Management LLC Has $12.33 Million Position in The Bancorp, Inc. (NASDAQ:TBBK)

Millennium Management LLC cut its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 16.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,335 shares of the bank's stock after selling 47,319 shares during the period. Millennium Management LLC owned about 0.49% of Bancorp worth $12,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC increased its position in shares of Bancorp by 3.6% during the fourth quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock valued at $51,783,000 after purchasing an additional 33,943 shares during the period. Jefferies Financial Group Inc. bought a new stake in Bancorp in the fourth quarter valued at $1,053,000. Ethic Inc. bought a new stake in Bancorp in the fourth quarter valued at $209,000. Deutsche Bank AG grew its position in Bancorp by 7.9% in the fourth quarter. Deutsche Bank AG now owns 889,550 shares of the bank's stock valued at $46,817,000 after acquiring an additional 65,179 shares during the period. Finally, Balyasny Asset Management L.P. grew its position in Bancorp by 599.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock valued at $19,390,000 after acquiring an additional 315,772 shares during the period. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wall Street Zen cut Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Raymond James restated an "outperform" rating and issued a $67.00 price target (up from $60.00) on shares of Bancorp in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lowered their price target on Bancorp from $72.00 to $70.00 and set an "outperform" rating for the company in a report on Monday, April 28th.

Bancorp Stock Down 0.1%

Shares of NASDAQ:TBBK traded down $0.07 during mid-day trading on Thursday, reaching $51.73. 21,390 shares of the stock were exchanged, compared to its average volume of 566,790. The company has a quick ratio of 0.86, a current ratio of 0.89 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.42 billion, a P/E ratio of 12.03 and a beta of 1.31. The Bancorp, Inc. has a one year low of $31.34 and a one year high of $65.84. The stock's 50 day simple moving average is $49.82 and its 200-day simple moving average is $53.68.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.22 by ($0.03). The firm had revenue of $175.39 million for the quarter, compared to the consensus estimate of $108.88 million. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, equities research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Bancorp Company 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.