Livforsakringsbolaget Skandia Omsesidigt Raises Holdings in The Bancorp, Inc. $TBBK

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in The Bancorp, Inc. by 21.5% during the second quarter, owning approximately 0.08% of the company, worth about $2.06 million.
• Insider transactions included EVP Ryan Harris selling 9,841 shares for over $751,557, while Director Matthew Cohn purchased 1,350 shares for $87,480, indicating mixed signals from company insiders.
• Wall Street analysts have issued mostly optimistic ratings for Bancorp, with several upgrades leading to a target price set at $62.00 as consensus among analysts.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 21.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,200 shares of the bank's stock after purchasing an additional 6,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.08% of Bancorp worth $2,061,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Quarry LP purchased a new stake in Bancorp during the 1st quarter worth about $39,000. Brooklyn Investment Group acquired a new position in shares of Bancorp during the 1st quarter worth about $58,000. GAMMA Investing LLC boosted its position in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank's stock valued at $77,000 after purchasing an additional 456 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of Bancorp in the 1st quarter valued at about $169,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Bancorp in the 2nd quarter valued at about $170,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insiders Place Their Bets

In other news, EVP Ryan Harris sold 9,841 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the completion of the transaction, the executive vice president directly owned 129,598 shares of the company's stock, valued at approximately $9,897,399.26. This represents a 7.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn bought 1,350 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were acquired at an average cost of $64.80 per share, with a total value of $87,480.00. Following the completion of the purchase, the director owned 1,350 shares in the company, valued at approximately $87,480. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. Corporate insiders own 5.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TBBK. Raymond James Financial raised Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Jefferies Financial Group raised Bancorp to a "buy" rating in a research report on Monday, July 7th. Morgan Stanley reissued 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 reissued a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Finally, Barclays reissued a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $62.00.

Bancorp Stock Down 1.9%

TBBK opened at $78.07 on Friday. The business has a 50 day moving average price of $70.28 and a two-hundred day moving average price of $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 company has a market cap of $3.60 billion, a PE ratio of 16.79 and a beta of 1.36. The Bancorp, Inc. has a 52 week low of $40.51 and a 52 week high of $80.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted 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 firm had revenue of $138.00 million during the quarter, compared to the consensus estimate 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. As a group, research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.