Assenagon Asset Management S.A. Makes New $3.01 Million Investment in The Bancorp, Inc. $TBBK

Key Points

• Assenagon Asset Management S.A. has made a new investment in The Bancorp, Inc. with a total of approximately $3.01 million, acquiring 52,903 shares.
• Analysts have given positive ratings for The Bancorp, with one strong buy and several buy ratings, setting a consensus price target of $62.00.
• The Bancorp reported a Q2 EPS of $1.27, exceeding expectations, with revenues of $138 million, and has set FY 2025 guidance at 5.250 EPS.

Assenagon Asset Management S.A. acquired a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 52,903 shares of the bank's stock, valued at approximately $3,014,000. Assenagon Asset Management S.A. owned approximately 0.11% of Bancorp as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Bancorp in the 1st quarter valued at $39,000. Brooklyn Investment Group acquired a new stake in Bancorp in the first quarter valued at about $58,000. 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 valued at $77,000 after buying an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Bancorp in the first quarter valued at about $169,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Bancorp in the second quarter valued at about $170,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley restated an "overweight" rating and issued a $52.00 price target on shares of Bancorp in a research note on Friday, July 18th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Barclays restated a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. One 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $62.00.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $76.87 on Friday. The firm has a market cap of $3.54 billion, a PE ratio of 16.53 and a beta of 1.36. The firm's fifty day moving average is $71.10 and its 200-day moving average is $58.88. 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 52 week low of $40.51 and a 52 week high of $80.76.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced 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 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. Sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Ryan Harris sold 9,841 shares of Bancorp stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total value of $751,557.17. Following the transaction, the executive vice president directly owned 129,598 shares of the company's stock, valued at $9,897,399.26. The trade was a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gregor J. Garry sold 12,532 shares of Bancorp stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $75.14, for a total value of $941,654.48. Following the completion of the transaction, the chief operating officer directly owned 110,107 shares in the company, valued at approximately $8,273,439.98. This represents a 10.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. 5.60% of the stock is owned by company insiders.

Bancorp 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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