Intech Investment Management LLC Acquires 6,460 Shares of The Bancorp, Inc. $TBBK

Key Points

• Intech Investment Management LLC increased its holdings in The Bancorp, Inc. by 22.9%, acquiring an additional 6,460 shares during the first quarter, bringing its total to 34,667 shares valued at approximately $1.83 million.
• Various hedge funds have also boosted their stakes in Bancorp, with Invesco, American Century Companies, and Emerald Advisers among those increasing ownership by significant percentages during the same period.
• Analysts have mixed ratings for Bancorp, with Raymond James upgrading it to a "strong-buy," while others like Wall Street Zen have downgraded it to "sell," leading to a consensus rating of "buy" and a price target of $62.00.

Intech Investment Management LLC grew its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 22.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,667 shares of the bank's stock after acquiring an additional 6,460 shares during the quarter. Intech Investment Management LLC owned 0.07% of Bancorp worth $1,832,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Bancorp by 20.7% during the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank's stock worth $143,354,000 after acquiring an additional 466,139 shares during the last quarter. American Century Companies Inc. boosted its holdings in Bancorp by 9.8% during the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock worth $138,908,000 after acquiring an additional 235,303 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Bancorp by 5.4% during the 1st quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank's stock worth $96,248,000 after acquiring an additional 93,586 shares during the last quarter. Emerald Advisers LLC boosted its holdings in Bancorp by 63.1% during the 1st quarter. Emerald Advisers LLC now owns 548,269 shares of the bank's stock worth $28,971,000 after acquiring an additional 212,102 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Bancorp by 2.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 456,613 shares of the bank's stock worth $24,127,000 after acquiring an additional 10,468 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bancorp

In other news, EVP Ryan Harris sold 9,841 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the sale, the executive vice president directly owned 129,598 shares in the company, valued at $9,897,399.26. This represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Damian Kozlowski sold 39,659 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares in the company, valued at approximately $41,261,337.44. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TBBK has been the topic of a number of analyst reports. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. 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 raised shares of Bancorp to a "buy" rating in a report on Monday, July 7th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $52.00 price target on shares of Bancorp in a 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 assigned a Hold rating to the stock. According to data from MarketBeat, Bancorp presently has a consensus rating of "Buy" and a consensus price target of $62.00.

Bancorp Price Performance

NASDAQ TBBK opened at $75.83 on Wednesday. The company has a market cap of $3.49 billion, a PE ratio of 16.31 and a beta of 1.36. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $80.16. 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 firm's 50-day simple moving average is $69.33 and its two-hundred day simple moving average is $57.67.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.26 by $0.01. The business had revenue of $138.00 million for the quarter, compared to the consensus estimate of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. Research analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

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.

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