XTX Topco Ltd Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

Key Points

• XTX Topco Ltd acquired 13,596 shares of The Bancorp, Inc. for approximately $718,000 during the first quarter, marking a significant new stake.
• Institutional investors and hedge funds own a dominant 96.22% of The Bancorp's stock, highlighting strong interest from large investment firms.
• The Bancorp reported $1.27 EPS for the last quarter, exceeding expectations, with a forecast of 5.31 earnings per share for the current fiscal year.

XTX Topco Ltd acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,596 shares of the bank's stock, valued at approximately $718,000.

Other hedge funds have also recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new position in shares of Bancorp during the first quarter valued at about $518,000. Allspring Global Investments Holdings LLC increased its holdings in 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 buying an additional 5,872 shares during the period. Principal Financial Group Inc. increased its holdings in 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 buying an additional 8,486 shares during the period. GAMMA Investing LLC increased its holdings in 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 buying an additional 76,402 shares during the period. Finally, Teacher Retirement System of Texas increased its holdings in 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 buying an additional 3,552 shares during the period. Institutional investors and hedge funds own 96.22% of the company's stock.

Bancorp Trading Up 3.2%

Shares of TBBK stock opened at $64.48 on Tuesday. The stock's fifty day moving average is $58.29 and its two-hundred day moving average is $54.81. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market capitalization of $3.01 billion, a P/E ratio of 13.87 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 $70.63.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 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 32.85%. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. Research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TBBK has been the topic of several research reports. Barclays reiterated a "buy" rating on shares of Bancorp in a report on Monday, July 7th. 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. Jefferies Financial Group upgraded shares of Bancorp to a "buy" rating in a research note on Monday, July 7th. Morgan Stanley reiterated an "overweight" rating and issued a $52.00 target price on shares of Bancorp in a research note on Friday, July 18th. Finally, Wall Street Zen lowered Bancorp from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Insider Buying and Selling at Bancorp

In other news, CEO Damian Kozlowski sold 141,213 shares of Bancorp stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $64.84, for a total transaction of $9,156,250.92. Following the transaction, the chief executive officer owned 816,443 shares in the company, valued at $52,938,164.12. The trade was a 14.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Cohn purchased 1,350 shares of Bancorp stock in a transaction dated Tuesday, July 29th. The shares were bought at an average price of $64.80 per share, for a total transaction of $87,480.00. Following the acquisition, the director 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 quarter, insiders have bought 1,912 shares of company stock worth $122,856 and have sold 300,000 shares worth $19,260,310. 5.60% of the stock is owned by 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.

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