Virtu Financial LLC Invests $252,000 in The Bancorp, Inc. $TBBK

Key Points

• Virtu Financial LLC has acquired a new stake in The Bancorp, Inc., purchasing 4,768 shares valued at approximately $252,000 during the first quarter.
• The Bancorp, Inc. reported $1.27 EPS for the last quarter, exceeding analysts' expectations of $1.26, with revenue reaching $138 million compared to anticipated $94.87 million.
• Brokerages have set price targets for The Bancorp with Morgan Stanley at $52, Keefe, Bruyette & Woods at $65, and several upgrades to a "buy" or "strong-buy" rating, indicating positive market sentiment.

Virtu Financial LLC bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,768 shares of the bank's stock, valued at approximately $252,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in Bancorp by 1.2% in the first quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank's stock valued at $1,017,000 after acquiring an additional 236 shares during the last quarter. Napa Wealth Management lifted its stake in shares of Bancorp by 3.8% in the fourth quarter. Napa Wealth Management now owns 6,940 shares of the bank's stock worth $365,000 after buying an additional 255 shares during the last quarter. First Hawaiian Bank lifted its stake in shares of Bancorp by 3.3% in the first quarter. First Hawaiian Bank now owns 12,136 shares of the bank's stock worth $641,000 after buying an additional 385 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Bancorp by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank's stock worth $635,000 after buying an additional 408 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Bancorp by 8.1% in the fourth quarter. Bank of Montreal Can now owns 5,565 shares of the bank's stock worth $293,000 after buying an additional 418 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on TBBK shares. Wall Street Zen cut shares of Bancorp from a "hold" rating to a "sell" rating in a research note on Wednesday, May 21st. 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. Barclays restated a "buy" rating on shares of Bancorp in a research note on Monday, July 7th. Oppenheimer restated an "outperform" rating on shares of Bancorp in a research note on Friday, July 18th. Finally, Jefferies Financial Group upgraded shares of Bancorp to a "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 assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $62.00.

Insider Buying and Selling at Bancorp

In related news, CEO Damian Kozlowski sold 141,213 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $64.84, for a total transaction of $9,156,250.92. Following the completion of the transaction, the chief executive officer directly owned 816,443 shares in the company, valued at $52,938,164.12. This represents a 14.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Cohn purchased 1,350 shares of the stock in a transaction on Tuesday, July 29th. The stock was acquired at an average cost of $64.80 per share, for a total transaction of $87,480.00. Following the acquisition, 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. Over the last quarter, 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 corporate insiders.

Bancorp Stock Performance

NASDAQ:TBBK traded up $1.06 during trading hours on Thursday, hitting $67.53. 581,568 shares of the company traded hands, compared to its average volume of 770,815. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 14.52 and a beta of 1.30. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $70.63. The firm has a 50-day moving average of $61.86 and a 200 day moving average of $55.62. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

Bancorp (NASDAQ:TBBK - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million during the quarter, compared to analysts' expectations 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, analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

About Bancorp

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.