Pinnacle Wealth Management LLC Takes Position in The Bancorp, Inc. $TBBK

Key Points

• Pinnacle Wealth Management LLC acquired 13,670 shares of The Bancorp, Inc. ($TBBK), valued at approximately $722,000, making it the fund’s 25th largest holding.
• Recent activity also included significant stake increases from other hedge funds, with Invesco Ltd. raising its investment by 20.7% and Jupiter Asset Management Ltd. boosting its stake by an astonishing 741.9%.
• Analysts have given a consensus rating of "Moderate Buy" with price targets ranging from $52.00 to $65.00, reflecting positive sentiment around the stock’s performance.

Pinnacle Wealth Management LLC purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,670 shares of the bank's stock, valued at approximately $722,000. Bancorp makes up 0.8% of Pinnacle Wealth Management LLC's holdings, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Invesco Ltd. boosted its holdings in shares of Bancorp by 20.7% during the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock worth $143,354,000 after buying an additional 466,139 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Bancorp by 9.8% during the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock worth $138,908,000 after buying an additional 235,303 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Bancorp by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock worth $96,248,000 after buying an additional 93,586 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Bancorp by 3.6% during the 4th quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank's stock worth $51,783,000 after buying an additional 33,943 shares in the last quarter. Finally, Nantahala Capital Management LLC boosted its holdings in shares of Bancorp by 65.7% during the 4th quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank's stock worth $51,286,000 after buying an additional 386,295 shares in the last quarter. 96.22% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Matthew Cohn purchased 550 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $63.51 per share, with a total value of $34,930.50. Following the transaction, the director owned 1,900 shares of the company's stock, valued at $120,669. This represents a 40.74% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Damian Kozlowski sold 39,659 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the completion of the sale, the chief executive officer directly owned 657,656 shares of the company's stock, valued at $41,261,337.44. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 2,462 shares of company stock valued at $157,786 and sold 300,000 shares valued at $19,260,310. Corporate insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley restated an "overweight" rating and set a $52.00 price target on shares of Bancorp in a report on Friday, July 18th. Wall Street Zen cut Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. Barclays restated a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group raised Bancorp to a "buy" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Bancorp currently has a consensus rating of "Buy" and an average price target of $62.00.

Bancorp Stock Up 7.7%

Shares of NASDAQ:TBBK traded up $5.20 during trading on Friday, reaching $72.73. 1,281,736 shares of the stock were exchanged, compared to its average volume of 730,942. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $72.87. The stock has a fifty day moving average of $62.31 and a two-hundred day moving average of $55.69. The firm has a market cap of $3.35 billion, a price-to-earnings ratio of 15.64 and a beta of 1.30.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.01. The business had revenue of $138.00 million during the quarter, compared to analyst estimates of $94.87 million. Bancorp had a return on equity of 27.24% and a net margin of 27.16%. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. Research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

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.