Bancorp Inc (NASDAQ:TBBK) Sees Large Decline in Short Interest
Bancorp Inc (NASDAQ:TBBK) was the recipient of a significant drop in short interest in July. As of July 31st, there was short interest totalling 303,800 shares, a drop of 9.5% from the June 30th total of 335,800 shares. Based on an average daily trading volume, of 186,000 shares, the short-interest ratio is currently 1.6 days. Currently, 0.6% of the shares of the stock are sold short.
TBBK stock traded down $0.03 during trading on Thursday, reaching $9.40. 106,500 shares of the stock were exchanged, compared to its average volume of 164,625. The company has a current ratio of 0.70, a quick ratio of 0.47 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average price of $9.33 and a 200-day moving average price of $9.08. Bancorp has a 1 year low of $7.64 and a 1 year high of $10.87. The firm has a market capitalization of $548.45 million, a price-to-earnings ratio of 13.62 and a beta of 1.26.
Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 25th. The bank reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. Bancorp had a net margin of 30.27% and a return on equity of 11.42%. The company had revenue of $54.29 million for the quarter, compared to the consensus estimate of $52.99 million. On average, research analysts anticipate that Bancorp will post 0.98 EPS for the current year.
A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its position in shares of Bancorp by 39.4% in the fourth quarter. Bank of New York Mellon Corp now owns 382,241 shares of the bank’s stock worth $3,043,000 after buying an additional 107,988 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bancorp by 16.1% in the fourth quarter. Geode Capital Management LLC now owns 644,727 shares of the bank’s stock worth $5,131,000 after buying an additional 89,545 shares in the last quarter. Bank of America Corp DE raised its position in shares of Bancorp by 9.3% in the fourth quarter. Bank of America Corp DE now owns 287,260 shares of the bank’s stock worth $2,286,000 after buying an additional 24,446 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Bancorp by 358.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,734 shares of the bank’s stock worth $133,000 after buying an additional 13,083 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Bancorp by 71.5% in the fourth quarter. Millennium Management LLC now owns 446,184 shares of the bank’s stock worth $3,552,000 after buying an additional 186,015 shares in the last quarter. 78.14% of the stock is currently owned by institutional investors.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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