Invesco Ltd. Raises Stake in The Bancorp, Inc. $TBBK

Key Points

• Invesco Ltd. increased its stake in The Bancorp, Inc. by 20.7%, owning approximately 5.66% of the bank with a value of $143.35 million as of the latest SEC filing.
• Other institutional investors made significant adjustments, with 96.22% of the stock currently held by institutional investors and hedge funds.
• Bancorp's stock fell by 2.5% to $66.11, and the company reported earnings exceeding estimates, with $1.27 earnings per share for the last quarter.

Invesco Ltd. raised its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 20.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,712,975 shares of the bank's stock after purchasing an additional 466,139 shares during the period. Invesco Ltd. owned approximately 5.66% of Bancorp worth $143,354,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings in Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after acquiring an additional 456 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Bancorp during the first quarter valued at about $169,000. Ethic Inc. purchased a new stake in shares of Bancorp during the fourth quarter worth about $209,000. Yorktown Management & Research Co Inc bought a new position in Bancorp in the first quarter worth about $227,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Bancorp in the first quarter worth about $236,000. Institutional investors own 96.22% of the company's stock.

Insider Transactions at Bancorp

In related news, CEO Damian Kozlowski sold 39,659 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $62.74, for a total transaction of $2,488,205.66. Following the completion of the sale, the chief executive officer directly owned 657,656 shares in the company, valued at approximately $41,261,337.44. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Cohn bought 550 shares of the stock in a transaction on Monday, August 4th. The shares were bought at an average cost of $63.51 per share, with a total value of $34,930.50. Following the purchase, the director owned 1,900 shares of the company's stock, valued at $120,669. This trade represents a 40.74% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,462 shares of company stock valued at $157,786 and sold 300,000 shares valued at $19,260,310. 5.20% of the stock is owned by corporate insiders.

Bancorp Stock Performance

Shares of TBBK stock traded up $0.4350 during trading hours on Tuesday, hitting $65.8850. The company's stock had a trading volume of 97,790 shares, compared to its average volume of 582,285. The company has a 50 day moving average of $61.05 and a 200 day moving average of $55.43. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $70.63. The stock has a market cap of $3.03 billion, a PE ratio of 14.17 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. The firm 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. On average, sell-side analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Ratings Changes

TBBK has been the subject of a number of analyst reports. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research note on Monday, July 7th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research report on Friday, July 18th. Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 7th. Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Finally, Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $62.00.

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.