Rafferty Asset Management LLC Decreases Position in The Bancorp, Inc. $TBBK

Key Points

• Rafferty Asset Management LLC has reduced its holdings in The Bancorp, Inc. by 47.4% in the first quarter, now owning around 65,227 shares valued at approximately $3.4 million.
• Analysts have mixed opinions on Bancorp, with a consensus rating of "Buy" and a price target of $62.00, although ratings vary from "Strong Buy" to "Sell" among different firms.
• Insider activity includes Director Matthew Cohn purchasing 550 shares and CEO Damian Kozlowski selling 39,659 shares, indicating varying confidence levels in the company's performance.

Rafferty Asset Management LLC trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 47.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,227 shares of the bank's stock after selling 58,791 shares during the quarter. Rafferty Asset Management LLC owned 0.14% of Bancorp worth $3,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Bancorp during the 1st quarter worth about $518,000. Allspring Global Investments Holdings LLC increased its position in shares of Bancorp by 54.0% during 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% during 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. HighTower Advisors LLC acquired a new stake in shares of Bancorp during the 1st quarter worth about $673,000. Finally, Hsbc Holdings PLC increased its position in shares of Bancorp by 158.7% during the 1st quarter. Hsbc Holdings PLC now owns 17,991 shares of the bank's stock worth $946,000 after purchasing an additional 11,037 shares during the last quarter. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TBBK. Wall Street Zen downgraded Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Barclays reaffirmed a "buy" rating on shares of Bancorp 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. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. 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, the company presently has a consensus rating of "Buy" and an average price target of $62.00.

Insider Activity at Bancorp

In other Bancorp news, Director Matthew Cohn bought 550 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price of $63.51 per share, for a total transaction of $34,930.50. Following the completion of the purchase, the director directly owned 1,900 shares in the company, valued at $120,669. This trade represents a 40.74% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Damian Kozlowski sold 39,659 shares of the business'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 value of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares of the company's stock, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,462 shares of company stock valued at $157,786 and have sold 300,000 shares valued at $19,260,310. 5.60% of the stock is owned by insiders.

Bancorp Stock Up 0.3%

Shares of Bancorp stock traded up $0.25 on Thursday, reaching $76.53. 465,737 shares of the company were exchanged, compared to its average volume of 615,588. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $80.16. The company has a market cap 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 stock's 50 day moving average price is $66.56 and its 200-day moving average price is $56.61.

Bancorp (NASDAQ:TBBK - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.01. Bancorp had a return on equity of 27.24% and a net margin of 27.16%.The business had revenue of $138.00 million during 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, equities analysts forecast 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.