17,000 Shares in The Bancorp, Inc. $TBBK Bought by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. acquired a new position in The Bancorp, Inc., purchasing 17,000 shares valued at approximately $968,000 during the second quarter.
• Analyst ratings for Bancorp are favorable, with one analyst giving a Strong Buy rating, six issuing Buy ratings, and an average price target of $62.00.
• CEO Damian Kozlowski sold 39,659 shares at an average price of $62.74, while a director purchased shares, indicating mixed insider trading activities.

Hennessy Advisors Inc. purchased a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,000 shares of the bank's stock, valued at approximately $968,000.

Several other large investors have also bought and sold shares of the business. Invesco Ltd. boosted its stake in Bancorp by 20.7% in the first quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock valued at $143,354,000 after buying an additional 466,139 shares in the last quarter. American Century Companies Inc. boosted its stake in 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 buying an additional 235,303 shares in the last quarter. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Emerald Advisers LLC boosted its stake in Bancorp by 63.1% in the first quarter. Emerald Advisers LLC now owns 548,269 shares of the bank's stock valued at $28,971,000 after buying an additional 212,102 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bancorp by 2.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 456,613 shares of the bank's stock valued at $24,127,000 after buying an additional 10,468 shares in the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TBBK. Oppenheimer reaffirmed an "outperform" rating on shares of Bancorp in a research note on Friday, July 18th. Morgan Stanley reissued an "overweight" rating and set a $52.00 price target on shares of Bancorp in a research note on Friday, July 18th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 price target on shares of Bancorp in a research note on Friday, July 11th. Jefferies Financial Group raised Bancorp to a "buy" rating in a research note on Monday, July 7th. Finally, Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $62.00.

Insiders Place Their Bets

In other Bancorp news, CEO Damian Kozlowski sold 39,659 shares of Bancorp stock in a transaction that occurred on Thursday, July 31st. The stock was 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 in the company, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Cohn acquired 550 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $63.51 per share, with a total value of $34,930.50. Following the acquisition, the director owned 1,900 shares of the company's stock, valued at approximately $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 three months, insiders have acquired 2,462 shares of company stock valued at $157,786 and have sold 322,841 shares valued at $20,990,025. 5.60% of the stock is owned by corporate insiders.

Bancorp Trading Up 2.0%

Shares of TBBK stock opened at $76.14 on Friday. The company has a market cap of $3.51 billion, a P/E ratio of 16.37 and a beta of 1.31. The stock has a 50 day simple moving average of $71.99 and a two-hundred day simple moving average of $59.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $80.76.

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

Bancorp Company Profile

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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