Raymond James Financial Inc. Sells 4,192 Shares of The Bancorp, Inc. $TBBK

Raymond James Financial Inc. reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,822 shares of the bank's stock after selling 4,192 shares during the quarter. Raymond James Financial Inc. owned about 0.13% of Bancorp worth $3,267,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TBBK. American Century Companies Inc. increased its position in Bancorp by 9.8% in the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank's stock worth $138,908,000 after buying an additional 235,303 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Bancorp by 8.8% during the first quarter. Lord Abbett & CO. LLC now owns 187,587 shares of the bank's stock valued at $9,912,000 after acquiring an additional 15,108 shares during the period. HighTower Advisors LLC acquired a new position in shares of Bancorp during the first quarter valued at $673,000. Public Sector Pension Investment Board lifted its stake 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 valued at $7,993,000 after acquiring an additional 31,891 shares during the period. Finally, Nuveen LLC acquired a new position in shares of Bancorp during the first quarter valued at $11,417,000. Hedge funds and other institutional investors own 96.22% of the company's stock.

Insider Buying and Selling

In other Bancorp news, COO Gregor J. Garry sold 12,532 shares of Bancorp stock in a transaction that occurred 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 of the company's stock, valued at approximately $8,273,439.98. The trade was a 10.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn bought 550 shares of the business's stock in a transaction on 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 transaction, the director owned 1,900 shares in the company, valued at $120,669. This trade represents a 40.74% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,462 shares of company stock valued at $157,786 and have sold 313,000 shares valued at $20,238,468. 5.20% of the stock is owned by insiders.

Bancorp Stock Performance

Bancorp stock traded up $0.72 during trading on Wednesday, hitting $76.00. The stock had a trading volume of 506,154 shares, compared to its average volume of 593,843. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $80.16. 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 stock's 50 day moving average is $67.67 and its two-hundred day moving average is $56.95. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 16.34 and a beta of 1.36.

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, topping the consensus estimate of $1.26 by $0.01. Bancorp had a return on equity of 27.24% and a net margin of 27.16%.The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $94.87 million. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. As a group, analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer restated an "outperform" rating on shares of Bancorp in a report on Friday, July 18th. Barclays reaffirmed 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 research note on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Finally, Wall Street Zen downgraded Bancorp from a "hold" rating to a "sell" rating in a report on Wednesday, May 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $62.00.

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.