Bank of America Corp DE Has $22.92 Million Position in The Bancorp, Inc. $TBBK

Key Points

• Bank of America more than doubled its Bancorp stake in the first quarter, adding 218,038 shares to hold 426,613 shares worth approximately $22.92 million, or 1.02% of the company.
• Institutional investors own 96.22% of Bancorp, with Royal Bank of Canada and Jane Street among other firms increasing their positions; an insider separately sold shares worth about $220,196.
• Bancorp reported quarterly EPS of $1.45, beating estimates by $0.09, while analysts maintain a “Moderate Buy” consensus with an average price target of $71.17.

Bank of America Corp DE raised its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 104.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 426,613 shares of the bank's stock after buying an additional 218,038 shares during the quarter. Bank of America Corp DE owned about 1.02% of Bancorp worth $22,922,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its stake in Bancorp by 98.2% during the 1st quarter. Royal Bank of Canada now owns 76,696 shares of the bank's stock valued at $4,052,000 after purchasing an additional 37,993 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Bancorp by 15.9% during the 1st quarter. AQR Capital Management LLC now owns 16,734 shares of the bank's stock worth $884,000 after purchasing an additional 2,296 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Bancorp by 1.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,183 shares of the bank's stock worth $1,436,000 after purchasing an additional 518 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bancorp by 6.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 147,523 shares of the bank's stock valued at $7,795,000 after purchasing an additional 8,454 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Bancorp by 145.8% during the first quarter. Jane Street Group LLC now owns 128,173 shares of the bank's stock valued at $6,773,000 after purchasing an additional 76,027 shares during the period. 96.22% of the stock is owned by institutional investors.

Insider Transactions at Bancorp

In related news, CAO Martin Egan sold 3,057 shares of Bancorp stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $72.03, for a total value of $220,195.71. Following the completion of the sale, the chief accounting officer directly owned 30,219 shares in the company, valued at $2,176,674.57. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Bancorp Trading Down 2.0%

Shares of Bancorp stock opened at $68.27 on Tuesday. The stock has a market capitalization of $2.78 billion, a P/E ratio of 12.83 and a beta of 1.19. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. The company has a 50-day simple moving average of $64.51 and a 200 day simple moving average of $59.39. The Bancorp, Inc. has a 12-month low of $50.20 and a 12-month high of $81.65.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The bank reported $1.45 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.09. The firm had revenue of $137.74 million during the quarter, compared to analysts' expectations of $166.69 million. Bancorp had a return on equity of 32.32% and a net margin of 27.72%.Bancorp has set its Q4 2026 guidance at 1.650-1.750 EPS and its FY 2026 guidance at 5.950-6.050 EPS. Research analysts expect that The Bancorp, Inc. will post 6.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Bancorp from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Bank of America reiterated a "buy" rating on shares of Bancorp in a research report on Monday, July 20th. Raymond James Financial set a $88.00 price target on shares of Bancorp in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Bancorp from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $79.00 price target (up from $77.00) on shares of Bancorp in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $71.17.

Bancorp Profile

The Bancorp, Inc NASDAQ: TBBK is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company's product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.

Want to see what other hedge funds are holding TBBK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Bancorp, Inc. (NASDAQ:TBBK - Free Report).

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