Bancorp (NASDAQ:TBBK) Hits New 52-Week High - Here's What Happened

Key Points

• Bancorp Inc. reached a new 52-week high of $77.25, reflecting strong market performance with a recent trading price of $76.89.
• Analysts show mixed opinions on Bancorp's stock, with Barclays and Jefferies issuing buy ratings, while Wall Street Zen downgraded it to sell.
• Insider trading activity included CEO Damian Kozlowski selling over 141,000 shares, while Director Matthew Cohn purchased shares, highlighting varied confidence among top executives.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $77.25 and last traded at $76.89, with a volume of 793693 shares traded. The stock had previously closed at $75.82.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $65.00 price target on shares of Bancorp in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Bancorp presently has an average rating of "Buy" and an average target price of $62.00.

Bancorp Price Performance

The firm's fifty day moving average price is $65.33 and its 200 day moving average price is $56.23. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock has a market cap of $3.46 billion, a PE ratio of 16.13 and a beta of 1.36.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. As a group, equities analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Damian Kozlowski sold 39,659 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares of the company's stock, valued at $41,261,337.44. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Cohn purchased 550 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were acquired at an average cost of $63.51 per share, for a total transaction of $34,930.50. Following the purchase, the director owned 1,900 shares of the company's stock, valued at $120,669. This represents a 40.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,462 shares of company stock worth $157,786 and have sold 300,000 shares worth $19,260,310. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bancorp

A number of hedge funds have recently bought and sold shares of TBBK. Invesco Ltd. raised its stake in Bancorp by 20.7% during the first quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock valued at $143,354,000 after purchasing an additional 466,139 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of Bancorp by 741.9% in the first quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank's stock valued at $22,665,000 after acquiring an additional 377,993 shares during the period. Balyasny Asset Management L.P. raised its stake in shares of 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. American Century Companies Inc. raised its stake in shares of Bancorp by 9.8% in the first quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock valued at $138,908,000 after acquiring an additional 235,303 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Bancorp in the first quarter valued at $11,417,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

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.