Credit Agricole S A Has $1.77 Million Stock Position in The Bancorp, Inc. $TBBK

Key Points

• Credit Agricole S A increased its holdings in The Bancorp, Inc. by 86.8%, owning 33,457 shares worth approximately $1.77 million after acquiring an additional 15,551 shares in the first quarter.
• Several large investors have made changes to their positions in Bancorp, with a total of 96.22% of the stock being held by hedge funds and institutional investors.
• The Bancorp reported strong quarterly earnings, with $1.27 EPS, exceeding analysts' estimates, along with a revenue of $138 million against expectations of $94.87 million.

Credit Agricole S A grew its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 86.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,457 shares of the bank's stock after acquiring an additional 15,551 shares during the quarter. Credit Agricole S A owned about 0.07% of Bancorp worth $1,768,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new stake in Bancorp in the 1st quarter valued at about $58,000. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 456 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Bancorp during the first quarter valued at approximately $169,000. Ethic Inc. acquired a new position in shares of Bancorp during the fourth quarter worth approximately $209,000. Finally, Entropy Technologies LP acquired a new position in shares of Bancorp during the first quarter worth approximately $209,000. Institutional investors own 96.22% of the company's stock.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn purchased 550 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average price of $63.51 per share, for a total transaction of $34,930.50. Following the transaction, the director directly owned 1,900 shares of the company's stock, valued at $120,669. This trade represents a 40.74% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Damian Kozlowski sold 39,659 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were 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 represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 2,462 shares of company stock valued at $157,786 and have sold 300,000 shares valued at $19,260,310. Corporate insiders own 5.60% of the company's stock.

Bancorp Price Performance

NASDAQ:TBBK traded down $1.64 during trading hours on Friday, reaching $76.24. 485,759 shares of the company's stock were exchanged, compared to its average volume of 673,537. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.51 billion, a P/E ratio of 16.40 and a beta of 1.30. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $78.50. The business's 50-day simple moving average is $64.88 and its two-hundred day simple moving average is $56.15.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.01. The company had revenue of $138.00 million for the quarter, compared to analysts' expectations 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 expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TBBK has been the topic of several analyst reports. Jefferies Financial Group upgraded Bancorp to a "buy" rating in a research report on Monday, July 7th. Oppenheimer reissued an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Barclays reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Finally, Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $62.00.

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.