Bancorp (NASDAQ:TBBK) Sets New 52-Week High - Here's Why

Key Points

• Bancorp, Inc. shares have reached a new 52-week high of $81.24 during trading, closing at $80.23 with significant trading volume of 327,308 shares.
• Analysts have recently upgraded Bancorp's stock ratings, with Raymond James and others issuing a "strong-buy" and "buy" ratings, reflecting increased investor confidence.
• The bank reported earnings of $1.27 per share, surpassing expectations and forecasting a consensus of $5.31 EPS for the current year.

The Bancorp, Inc. (NASDAQ:TBBK - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $81.24 and last traded at $80.23, with a volume of 327308 shares traded. The stock had previously closed at $76.36.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Morgan Stanley reiterated an "overweight" rating and set a $52.00 price target on shares of Bancorp in a report on Friday, July 18th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Finally, Barclays reiterated a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $62.00.

Bancorp Price Performance

The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 17.28 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $73.49 and a two-hundred day moving average of $60.86.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million during the quarter, compared to analysts' expectations 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 research analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew Cohn bought 1,350 shares of the firm's stock in a transaction dated Tuesday, July 29th. The stock was bought at an average cost of $64.80 per share, for a total transaction of $87,480.00. Following the transaction, the director owned 1,350 shares of the company's stock, valued at $87,480. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Damian Kozlowski sold 141,213 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $64.84, for a total value of $9,156,250.92. Following the transaction, the chief executive officer owned 816,443 shares of the company's stock, valued at $52,938,164.12. The trade was a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 2,462 shares of company stock valued at $157,786 and have sold 322,841 shares valued at $20,990,025. 5.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its position in shares of Bancorp by 3.3% during the second quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank's stock worth $154,705,000 after buying an additional 86,721 shares during the period. Invesco Ltd. lifted its stake in Bancorp by 20.7% in the 1st 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 during the last quarter. Wellington Management Group LLP lifted its position in shares of Bancorp by 5.4% in the first quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock valued at $96,248,000 after buying an additional 93,586 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Bancorp by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank's stock valued at $78,266,000 after purchasing an additional 7,405 shares during the last quarter. Finally, Owls Nest Partners IA LLC lifted its stake in shares of Bancorp by 6.4% during the 2nd quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank's stock worth $72,090,000 after buying an additional 75,635 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

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.

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