American Century Companies Inc. Raises Position in The Bancorp, Inc. $TBBK

Key Points

• American Century Companies Inc. raised its position in The Bancorp, Inc. by 9.8%, owning 2,628,832 shares valued at approximately $138.91 million at the end of the 1st quarter.
• The Bancorp reported earnings of $1.27 per share, exceeding analysts' expectations, with a revenue of $138 million compared to the anticipated $94.87 million.
• Analyst ratings for Bancorp include a consensus of "Moderate Buy" with a target price of **$62.00**, reflecting varied opinions, including some upgrades to "strong-buy" from multiple firms.

American Century Companies Inc. boosted its position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,628,832 shares of the bank's stock after buying an additional 235,303 shares during the quarter. American Century Companies Inc. owned approximately 5.48% of Bancorp worth $138,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Bancorp by 45.2% in the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock worth $77,000 after buying an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Bancorp in the first quarter valued at approximately $169,000. Entropy Technologies LP bought a new stake in Bancorp in the first quarter valued at approximately $209,000. Ethic Inc. bought a new stake in Bancorp in the fourth quarter valued at approximately $209,000. Finally, Yorktown Management & Research Co Inc bought a new stake in Bancorp in the first quarter valued at approximately $227,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insider Buying and Selling at Bancorp

In related news, CEO Damian Kozlowski sold 39,659 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the sale, the chief executive officer directly owned 657,656 shares of the company's stock, valued at $41,261,337.44. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Cohn acquired 550 shares of the company'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 completion of the transaction, the director directly owned 1,900 shares of the company's stock, valued at $120,669. The trade was a 40.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over 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. Company insiders own 5.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TBBK. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a report on Monday, July 7th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Morgan Stanley restated an "overweight" rating and set a $52.00 target price on shares of Bancorp in a report on Friday, July 18th. Raymond James Financial upgraded Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Wall Street Zen downgraded Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Bancorp currently has an average rating of "Buy" and a consensus price target of $62.00.

Bancorp Stock Up 6.8%

Shares of NASDAQ TBBK traded up $4.5890 during trading on Friday, reaching $72.1190. The company had a trading volume of 217,770 shares, compared to its average volume of 582,699. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $71.87. The stock has a market cap of $3.32 billion, a PE ratio of 15.48 and a beta of 1.30. The business's 50-day moving average is $61.86 and its 200 day moving average is $55.62. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14.

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 analysts' consensus estimates of $1.26 by $0.01. Bancorp had a return on equity of 27.24% and a net margin of 27.16%.The firm had revenue of $138.00 million for the quarter, compared to analysts' expectations of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. As a group, equities analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal 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.