Hsbc Holdings PLC Has $946,000 Holdings in The Bancorp, Inc. $TBBK

Key Points

• HSBC Holdings PLC increased its stake in The Bancorp, Inc. by 158.7%, purchasing an additional 11,037 shares in the first quarter, bringing its total holdings to 17,991 shares valued at approximately $946,000.
• Several hedge funds have adjusted their positions in Bancorp, contributing to a total institutional ownership of 96.22% of the company's stock.
• Bancorp reported earnings of $1.27 per share, surpassing analyst expectations, with revenue of $138 million for the quarter compared to estimates of $94.87 million.

Hsbc Holdings PLC raised its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 158.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,991 shares of the bank's stock after acquiring an additional 11,037 shares during the quarter. Hsbc Holdings PLC's holdings in Bancorp were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Pinnacle Wealth Management LLC bought a new position in shares of Bancorp during the 1st quarter worth approximately $722,000. Wellington Management Group LLP grew its stake in shares of Bancorp by 5.4% in the first quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock valued at $96,248,000 after buying an additional 93,586 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Bancorp in the first quarter valued at $58,000. American Century Companies Inc. grew its stake in shares of Bancorp by 9.8% in the first quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock valued at $138,908,000 after buying an additional 235,303 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in shares of Bancorp by 8.8% in the first quarter. Lord Abbett & CO. LLC now owns 187,587 shares of the bank's stock valued at $9,912,000 after buying an additional 15,108 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TBBK shares. Morgan Stanley reissued an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research note on Friday, July 18th. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Oppenheimer reissued an "outperform" rating on shares of Bancorp in a research note on Friday, July 18th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a research note on Friday, July 11th. Finally, Jefferies Financial Group raised Bancorp to a "buy" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $62.00.

Insiders Place Their Bets

In other news, Director Matthew Cohn bought 550 shares of the company's stock in a transaction dated Monday, August 4th. The stock was bought at an average price of $63.51 per share, with a total value of $34,930.50. Following the completion of the acquisition, the director owned 1,900 shares of the company's stock, valued at $120,669. This represents a 40.74% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Damian Kozlowski sold 39,659 shares of Bancorp stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $62.74, for a total value 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 position. The disclosure for this sale can be found here. In the last three months, insiders have bought 2,462 shares of company stock valued at $157,786 and have sold 300,000 shares valued at $19,260,310. 5.20% of the stock is currently owned by company insiders.

Bancorp Stock Performance

Bancorp stock traded up $0.02 during mid-day trading on Thursday, hitting $76.30. 215,985 shares of the company's stock traded hands, compared to its average volume of 592,460. The firm has a 50 day simple moving average of $66.18 and a two-hundred day simple moving average of $56.50. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $80.16. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 16.42 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted 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. Bancorp had a return on equity of 27.24% and a net margin of 27.16%.The company had revenue of $138.00 million during the quarter, compared to the consensus estimate of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. On average, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal 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.