Nuveen LLC Buys New Shares in The Bancorp, Inc. $TBBK

Key Points

• Nuveen LLC acquired 216,063 shares of The Bancorp, Inc. valued at approximately $11.4 million, increasing its ownership to 0.45% of the bank.
• In recent insider transactions, CEO Damian Kozlowski sold 141,213 shares, resulting in a 14.75% decrease in his ownership stake.
• The Bancorp reported a net margin of 27.16% and surpassed analysts' earnings expectations, with reported earnings of $1.27 per share for the last quarter.

Nuveen LLC bought a new position in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 216,063 shares of the bank's stock, valued at approximately $11,417,000. Nuveen LLC owned about 0.45% of Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new stake in shares of Bancorp in the 1st quarter worth about $518,000. Allspring Global Investments Holdings LLC increased its position in shares of Bancorp by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 16,752 shares of the bank's stock worth $897,000 after purchasing an additional 5,872 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Bancorp by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 313,095 shares of the bank's stock worth $16,544,000 after purchasing an additional 8,486 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Bancorp by 7,572.1% in the 1st quarter. GAMMA Investing LLC now owns 77,411 shares of the bank's stock worth $4,090,000 after purchasing an additional 76,402 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Bancorp by 44.8% in the 1st quarter. Teacher Retirement System of Texas now owns 11,472 shares of the bank's stock worth $606,000 after purchasing an additional 3,552 shares during the last quarter. Institutional investors own 96.22% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TBBK. Raymond James Financial raised shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 7th. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and set a $52.00 price objective on shares of Bancorp in a research report on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 price objective on shares of Bancorp in a research report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research report 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 given a Hold rating to the stock. Based on data from MarketBeat, Bancorp currently has an average rating of "Buy" and a consensus target price of $62.00.

Insider Buying and Selling

In related news, Director Matthew Cohn purchased 550 shares of Bancorp stock in a transaction dated Monday, August 4th. The stock was 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 in the company, valued at approximately $120,669. The trade was a 40.74% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Damian Kozlowski sold 39,659 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was 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 of the company's stock, 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. Over the last ninety days, insiders bought 2,462 shares of company stock valued at $157,786 and sold 300,000 shares valued at $19,260,310. Corporate insiders own 5.60% of the company's stock.

Bancorp Stock Performance

Bancorp stock traded up $0.99 during midday trading on Thursday, reaching $77.88. 534,613 shares of the stock traded hands, compared to its average volume of 685,689. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average price of $64.37 and a two-hundred day moving average price of $56.09. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 16.75 and a beta of 1.30. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $78.21.

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