Driehaus Capital Management LLC Sells 169,860 Shares of The Bancorp, Inc. $TBBK

Key Points

• Driehaus Capital Management LLC reduced its stake in The Bancorp, Inc. by 29.7% in the first quarter, holding 401,723 shares valued at approximately $21.2 million after selling 169,860 shares.
• Invesco Ltd. and Jupiter Asset Management Ltd. significantly increased their holdings in Bancorp by 20.7% and 741.9%, respectively, during the same period, with Invesco acquiring an additional 466,139 shares.
• Bancorp reported earnings of $1.27 per share for the previous quarter, surpassing analysts' estimates, while forecasting a FY 2025 guidance of 5.250 EPS.

Driehaus Capital Management LLC lowered its holdings in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 29.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 401,723 shares of the bank's stock after selling 169,860 shares during the period. Driehaus Capital Management LLC owned 0.84% of Bancorp worth $21,227,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group acquired a new position in Bancorp in the first quarter valued at $58,000. GAMMA Investing LLC lifted 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 worth $77,000 after acquiring an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Bancorp in the first quarter worth about $169,000. EntryPoint Capital LLC acquired a new stake in Bancorp during the first quarter valued at approximately $208,000. Finally, Ethic Inc. acquired a new stake in Bancorp during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays restated a "buy" rating on shares of Bancorp in a research note 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. Morgan Stanley restated an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Wall Street Zen downgraded Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. One research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $62.00.

Bancorp Stock Performance

TBBK stock traded up $0.25 during mid-day trading on Thursday, hitting $76.53. 465,737 shares of the company were exchanged, compared to its average volume of 615,588. The business has a 50 day simple moving average of $66.56 and a 200-day simple moving average of $56.61. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.52 billion, a PE ratio of 16.46 and a beta of 1.36. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $80.16.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued 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 business had revenue of $138.00 million during 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. On average, equities analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insider Activity at Bancorp

In other Bancorp news, CEO Damian Kozlowski sold 141,213 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $64.84, for a total transaction of $9,156,250.92. Following the completion of the transaction, the chief executive officer directly owned 816,443 shares in the company, valued at $52,938,164.12. The trade was a 14.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Cohn acquired 1,350 shares of the stock in a transaction on Tuesday, July 29th. The shares were purchased at an average price of $64.80 per share, with a total value of $87,480.00. Following the completion of the transaction, the director owned 1,350 shares of the company's stock, valued at approximately $87,480. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 2,462 shares of company stock valued at $157,786 and have sold 300,000 shares valued at $19,260,310. 5.60% of the stock is owned by insiders.

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.