The Bancorp, Inc. $TBBK Shares Bought by Hsbc Holdings PLC

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 grew its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 158.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,991 shares of the bank's stock after buying an additional 11,037 shares during the period. Hsbc Holdings PLC's holdings in Bancorp were worth $946,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Bancorp by 3.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock worth $635,000 after purchasing an additional 408 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in Bancorp by 599.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 368,416 shares of the bank's stock valued at $19,390,000 after acquiring an additional 315,772 shares during the period. Deutsche Bank AG lifted its stake in Bancorp by 7.9% during the 4th quarter. Deutsche Bank AG now owns 889,550 shares of the bank's stock valued at $46,817,000 after acquiring an additional 65,179 shares during the period. Ethic Inc. bought a new position in Bancorp during the 4th quarter valued at about $209,000. Finally, Jefferies Financial Group Inc. bought a new position in Bancorp during the 4th quarter valued at about $1,053,000. Institutional investors own 96.22% of the company's stock.

Bancorp Price Performance

Shares of NASDAQ TBBK traded down $0.61 during midday trading on Friday, reaching $75.93. 101,609 shares of the stock traded hands, compared to its average volume of 590,998. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The stock has a market capitalization of $3.50 billion, a PE ratio of 16.33 and a beta of 1.36. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $80.16. The company's 50 day moving average is $66.56 and its 200 day moving average is $56.61.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Insider Transactions at Bancorp

In other news, Director Matthew Cohn bought 550 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was purchased 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 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Damian Kozlowski sold 39,659 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 657,656 shares of the company's stock, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 2,462 shares of company stock worth $157,786 and have sold 300,000 shares worth $19,260,310. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. Wall Street Zen lowered shares of Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price target on shares of Bancorp in a research report on Friday, July 11th. Oppenheimer reaffirmed an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $52.00 price target on shares of Bancorp in a research report on Friday, July 18th. One investment 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 company's stock. Based on data from MarketBeat.com, Bancorp currently has an average rating of "Buy" and a consensus price target of $62.00.

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.