Northern Trust Corp Reduces Stock Position in The Bancorp, Inc. $TBBK

Key Points

• Northern Trust Corp reduced its stake in The Bancorp, Inc. by 1.5%, owning 587,442 shares valued at approximately $31 million after selling 8,780 shares in the first quarter.
• Several institutional investors are actively trading shares of Bancorp, with Public Sector Pension Investment Board increasing its position by 26.7% during the same quarter.
• Bancorp reported $1.27 earnings per share for the latest quarter, surpassing analysts' expectations, and set a FY 2025 guidance of 5.250 EPS.

Northern Trust Corp lowered its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 587,442 shares of the bank's stock after selling 8,780 shares during the quarter. Northern Trust Corp owned approximately 1.23% of Bancorp worth $31,040,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Brooklyn Investment Group acquired a new position in shares of Bancorp in the first quarter worth $58,000. American Century Companies Inc. raised its stake in Bancorp by 9.8% in the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock valued at $138,908,000 after purchasing an additional 235,303 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in Bancorp by 8.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 187,587 shares of the bank's stock valued at $9,912,000 after purchasing an additional 15,108 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Bancorp during the 1st quarter worth about $673,000. Finally, Public Sector Pension Investment Board grew its holdings in shares of Bancorp by 26.7% during the first quarter. Public Sector Pension Investment Board now owns 151,273 shares of the bank's stock worth $7,993,000 after buying an additional 31,891 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company's stock.

Insider Buying and Selling

In other Bancorp news, CEO Damian Kozlowski sold 141,213 shares of the stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $64.84, for a total value of $9,156,250.92. Following the completion of the sale, the chief executive officer owned 816,443 shares of the company's stock, valued at $52,938,164.12. This trade represents a 14.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Cohn bought 1,350 shares of Bancorp stock in a transaction dated Tuesday, July 29th. The shares were purchased at an average cost of $64.80 per share, for a total transaction of $87,480.00. Following the completion of the transaction, the director owned 1,350 shares of the company's stock, valued at approximately $87,480. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 2,462 shares of company stock valued at $157,786 and sold 300,000 shares valued at $19,260,310. 5.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TBBK shares. Barclays restated a "buy" rating on shares of Bancorp in a research report on Monday, July 7th. Morgan Stanley restated an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a report on Friday, July 18th. Jefferies Financial Group raised Bancorp to a "buy" rating in a research report on Monday, July 7th. Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $65.00 price target on shares of Bancorp in a research note on Friday, July 11th. One 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $62.00.

Bancorp Trading Up 0.3%

NASDAQ TBBK traded up $0.25 during mid-day trading on Thursday, hitting $76.53. The company's stock had a trading volume of 465,737 shares, compared to its average volume of 615,588. The firm has a market capitalization of $3.52 billion, a P/E ratio of 16.46 and a beta of 1.36. 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 Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $80.16. The stock's fifty day simple moving average is $66.56 and its two-hundred day simple moving average is $56.61.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.01. The company had revenue of $138.00 million during the quarter, compared to analyst estimates 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 expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Bancorp Company 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.