Tom Brown’s Second Curve Capital Llc reduced Position in Bancorp Inc (NASDAQ:TBBK)
Second Curve Capital Llc has filled a SC 13G/A form regarding Bancorp, Inc
The $545.33 million hedge fund looks more negative after such a decrease of Bancorp, Inc’s position.
The hedge fund has been active in the Finance sector recently. In the fund’s latest 13F, it revealed several positions. This sector is 29% of Tom Brown’s Second Curve Capital Llc’s US equities portfolio.
Bancorp, Inc Hedge Funds Ownership
Latest SEC filings show 105 hedge funds and institutional investors own Bancorp, Inc. The institutional ownership of the company in Q1 2015 is high, at 80.07 % of the shares outstanding. They decreased by 1798518 the total shares they hold. As of that quarter these institutional investors owned 30234639 shares. A total of 11 funds opened new positions in Bancorp, Inc and 39 increased their holdings. There were 13 funds that closed their positions and 32 that reduced them.
4 investors have the firm in their Top 10. Some of these are: Frigate Ventures Lp, Second Curve Capital Llc, Endicott Management Co, Consector Capital Lp..
Beach Investment Counsel Inc is the most positive institutional investor on Bancorp, Inc, with ownership of 700509 shares as of Q1 2015 for less than 0.01% of the fund’s portfolio. Beach Investment Management Llc is another positive player owning 113813 shares of the company or 1.51% of their stocks portfolio. NY Jane Street Group Llc have less than 0.01% of their stock portfolio invested in the stock for 14000. Further, Schneider Capital Management Corp disclosed it had purchased a stake worth 0.21% of the fund’s stock portfolio in the company. The TX Frigate Ventures Lp was also a notable investor in the firm, owning 1457520 shares. Bancorp, Inc is 11.78% of the fund’s stock portfolio.
Company Profile
The Bancorp, Inc. is a financial holding company, which operates through its subsidiary, The Bancorp Bank (the Bank), a chartered commercial bank located in Wilmington, Delaware. The Company operates through four business segments: specialty finance, payments, corporate and discontinued operations. The specialty finance segment includes commercial mortgage loan sales, small business administration loans, leasing and security backed lines of credit and deposits generated by those business lines. The payments segment includes prepaid cards, card payments, automated clearing house (ACH) processing and healthcare accounts. The corporate segment includes the Company’s investment portfolio. Through the Bank, the Company also provides banking services nationally, which include private label banking, institutional banking, card payment and other payment processing and health savings accounts.
Form 13G is used when the filer owns between 5% and 20% of the company and plans to hold it only as a passive investor. If the filler intend to exert control and if the stake’s size exceeds 20%, then a 13D must be filed. Therefore, activist investors and practices such as: hostile takeovers, company breakups, and other “change of control” events, are not permitted by 13G filers.
Tom Brown’s Second Curve Capital Llc website.
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