Lord Abbett & CO. LLC Buys 15,108 Shares of The Bancorp, Inc. $TBBK

Key Points

• Lord Abbett & CO. LLC increased its holdings in The Bancorp, Inc. by 8.8% during Q1, now owning about 0.39% of the company.
• In a recent trading activity, CEO Damian Kozlowski sold 39,659 shares, while Director Matthew Cohn bought 550 shares, indicating mixed insider trading actions.
• The Bancorp reported earnings per share of $1.27 for the last quarter, exceeding analysts' expectations, with a forecast of 5.31 earnings per share for the current fiscal year.

Lord Abbett & CO. LLC boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 8.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,587 shares of the bank's stock after buying an additional 15,108 shares during the period. Lord Abbett & CO. LLC owned 0.39% of Bancorp worth $9,912,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new stake in Bancorp during the 1st quarter worth about $673,000. Public Sector Pension Investment Board increased its holdings in shares of Bancorp by 26.7% in the first quarter. Public Sector Pension Investment Board now owns 151,273 shares of the bank's stock worth $7,993,000 after acquiring an additional 31,891 shares in the last quarter. Nuveen LLC bought a new position in Bancorp in the first quarter valued at approximately $11,417,000. Virtu Financial LLC acquired a new stake in shares of Bancorp in the first quarter valued at approximately $252,000. Finally, Entropy Technologies LP acquired a new position in Bancorp in the 1st quarter valued at $209,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays reissued a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Morgan Stanley restated an "overweight" rating and issued a $52.00 price objective on shares of Bancorp in a report on Friday, July 18th. Jefferies Financial Group raised shares of Bancorp to a "buy" rating in a research report on Monday, July 7th. Wall Street Zen downgraded shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. Finally, Raymond James Financial upgraded shares of Bancorp from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Bancorp presently has a consensus rating of "Buy" and an average price target of $62.00.

Bancorp Price Performance

TBBK traded up $0.65 during midday trading on Thursday, reaching $67.12. 78,022 shares of the company's stock were exchanged, compared to its average volume of 582,022. 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 stock has a market capitalization of $3.09 billion, a PE ratio of 14.43 and a beta of 1.30. The business's 50-day moving average price is $61.54 and its 200 day moving average price is $55.58. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $70.63.

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 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. As a group, equities analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insider Activity at Bancorp

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

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.