Intech Investment Management LLC Boosts Stock Position in 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 stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 22.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 34,667 shares of the bank's stock after acquiring an additional 6,460 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Bancorp worth $1,832,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in shares of Bancorp during the 1st quarter worth $39,000. Brooklyn Investment Group acquired a new position in shares of Bancorp during the 1st quarter worth $58,000. GAMMA Investing LLC raised its holdings in shares of Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock worth $77,000 after buying an additional 456 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Bancorp during the 1st quarter worth $169,000. Finally, Systematic Alpha Investments LLC acquired a new position in shares of Bancorp during the 1st quarter worth $201,000. Institutional investors and hedge funds own 96.22% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on TBBK. Oppenheimer reiterated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Morgan Stanley reiterated an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Barclays reiterated a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Finally, Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $62.00.

Insider Transactions at Bancorp

In other news, Director Matthew Cohn bought 550 shares of the stock in a transaction on Monday, August 4th. The shares were purchased at an average cost of $63.51 per share, for a total transaction of $34,930.50. Following the completion of the purchase, the director directly owned 1,900 shares in the company, valued at $120,669. This represents a 40.74% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Gregor J. Garry sold 12,532 shares of the business's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $75.14, for a total value of $941,654.48. Following the completion of the sale, the chief operating officer owned 110,107 shares in the company, valued at approximately $8,273,439.98. The trade was a 10.22% decrease in their ownership of the stock. 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 322,841 shares valued at $20,990,025. 5.60% of the stock is currently owned by company insiders.

Bancorp Stock Performance

Bancorp stock traded down $1.53 during mid-day trading on Friday, reaching $78.07. 1,380,996 shares of the company's stock were exchanged, compared to its average volume of 629,977. The firm has a market capitalization of $3.60 billion, a PE ratio of 16.79 and a beta of 1.36. The business's fifty day simple moving average is $70.28 and its 200 day simple moving average is $58.14. 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 Bancorp, Inc. has a one year low of $40.51 and a one year high of $80.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last issued its 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 firm had revenue of $138.00 million for the quarter, compared to analyst estimates 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, sell-side analysts expect 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.