Cubist Systematic Strategies LLC Invests $587,000 in The Bancorp, Inc. $TBBK

Key Points

• Cubist Systematic Strategies LLC has acquired a new stake in The Bancorp, Inc., purchasing 11,105 shares valued at approximately $587,000 in the 1st quarter.
• Hedge funds and institutional investors own 96.22% of The Bancorp's stock, reflecting significant interest and confidence in the bank's performance.
• The Bancorp, Inc. reported a quarterly earnings per share of $1.27, exceeding analysts' expectations, and projects an EPS of 5.31 for the current fiscal year.

Cubist Systematic Strategies LLC acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,105 shares of the bank's stock, valued at approximately $587,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in Bancorp by 98.2% in the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank's stock worth $4,052,000 after purchasing an additional 37,993 shares in the last quarter. Quarry LP acquired a new position in Bancorp in the first quarter worth about $39,000. Capital Fund Management S.A. acquired a new position in Bancorp in the first quarter worth about $999,000. EntryPoint Capital LLC acquired a new position in Bancorp in the first quarter worth about $208,000. Finally, Credit Agricole S A raised its position in Bancorp by 86.8% in the first quarter. Credit Agricole S A now owns 33,457 shares of the bank's stock worth $1,768,000 after purchasing an additional 15,551 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on TBBK shares. Oppenheimer reaffirmed an "outperform" rating on shares of Bancorp in a research note on Friday, July 18th. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a research note on Friday, July 18th. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a research note on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $62.00.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Matthew Cohn acquired 1,350 shares of Bancorp stock in a transaction on Tuesday, July 29th. The shares were purchased at an average cost of $64.80 per share, with a total value of $87,480.00. Following the completion of the purchase, the director owned 1,350 shares in the company, valued at $87,480. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Damian Kozlowski sold 141,213 shares of Bancorp stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $64.84, for a total transaction of $9,156,250.92. Following the transaction, the chief executive officer directly owned 816,443 shares in the company, valued at approximately $52,938,164.12. This represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 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 currently owned by insiders.

Bancorp Trading Down 0.9%

TBBK stock traded down $0.71 during midday trading on Friday, reaching $75.95. The company's stock had a trading volume of 486,137 shares, compared to its average volume of 621,856. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $80.16. The stock has a market cap of $3.50 billion, a PE ratio of 16.33 and a beta of 1.36. 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 business's 50-day simple moving average is $68.72 and its 200-day simple moving average is $57.39.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.01. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. 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, sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS 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.