11,105 Shares in The Bancorp, Inc. $TBBK Bought by Cubist Systematic Strategies LLC

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 stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 11,105 shares of the bank's stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TBBK. Quarry LP bought a new position in shares of Bancorp in the first quarter worth $39,000. Brooklyn Investment Group purchased a new stake in Bancorp during the 1st quarter worth about $58,000. GAMMA Investing LLC boosted its stake in Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock worth $77,000 after purchasing an additional 456 shares during the period. Harvest Fund Management Co. Ltd bought a new position in Bancorp in the 1st quarter worth about $169,000. Finally, EntryPoint Capital LLC purchased a new position in Bancorp during the 1st quarter valued at about $208,000. Institutional investors own 96.22% of the company's stock.

Bancorp Price Performance

TBBK traded down $0.69 during trading on Tuesday, reaching $75.83. The stock had a trading volume of 423,817 shares, compared to its average volume of 619,843. The business has a 50-day moving average of $69.33 and a 200-day moving average of $57.67. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $80.16. 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 stock has a market cap of $3.49 billion, a PE ratio of 16.31 and a beta of 1.36.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. The company had revenue of $138.00 million during 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. As a group, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TBBK. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Barclays reaffirmed a "buy" rating on shares of Bancorp in a report on Monday, July 7th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Finally, Morgan Stanley reissued an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a research note on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $62.00.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn acquired 1,350 shares of Bancorp stock in a transaction dated 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 of the company's stock, valued at $87,480. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Gregor J. Garry sold 12,532 shares of Bancorp stock in a transaction dated 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 owned 110,107 shares in the company, valued at approximately $8,273,439.98. This represents a 10.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,462 shares of company stock worth $157,786 and sold 322,841 shares worth $20,990,025. Insiders own 5.20% of the company's stock.

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.