Millennium Management LLC Sells 47,319 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Millennium Management LLC trimmed its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 234,335 shares of the bank's stock after selling 47,319 shares during the period. Millennium Management LLC owned approximately 0.49% of Bancorp worth $12,333,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of Bancorp by 2.0% during the fourth quarter. FMR LLC now owns 4,306,715 shares of the bank's stock worth $226,662,000 after acquiring an additional 85,908 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Bancorp by 35.9% during the fourth quarter. American Century Companies Inc. now owns 2,393,529 shares of the bank's stock worth $125,971,000 after acquiring an additional 631,744 shares in the last quarter. Invesco Ltd. raised its stake in shares of Bancorp by 26.2% during the fourth quarter. Invesco Ltd. now owns 2,246,836 shares of the bank's stock worth $118,251,000 after acquiring an additional 466,795 shares in the last quarter. Janus Henderson Group PLC raised its stake 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 worth $51,783,000 after acquiring an additional 33,943 shares in the last quarter. Finally, Nantahala Capital Management LLC raised its stake in shares of Bancorp by 65.7% during the fourth quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after acquiring an additional 386,295 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TBBK has been the topic of several research reports. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Raymond James reissued an "outperform" rating and set a $67.00 price target (up from $60.00) on shares of Bancorp in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Bancorp from $72.00 to $70.00 and set an "outperform" rating on the stock in a report on Monday, April 28th.

Bancorp Trading Up 2.4%

Shares of Bancorp stock traded up $1.21 on Tuesday, hitting $52.31. The stock had a trading volume of 319,204 shares, compared to its average volume of 569,680. 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 Bancorp, Inc. has a one year low of $31.34 and a one year high of $65.84. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of 12.17 and a beta of 1.31. The stock's 50-day simple moving average is $49.92 and its two-hundred day simple moving average is $53.71.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.03). The firm had revenue of $175.39 million during 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, sell-side analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current 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.