The Bancorp, Inc. $TBBK Shares Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,564 shares of the bank’s stock after acquiring an additional 318 shares during the period. Bancorp accounts for about 0.7% of SummerHaven Investment Management LLC’s holdings, making the stock its 28th biggest position. SummerHaven Investment Management LLC’s holdings in Bancorp were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Kendall Capital Management increased its position in Bancorp by 1.9% in the 2nd quarter. Kendall Capital Management now owns 17,270 shares of the bank’s stock valued at $984,000 after acquiring an additional 325 shares during the period. State of Alaska Department of Revenue increased its position in Bancorp by 5.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 27,796 shares of the bank’s stock worth $1,582,000 after purchasing an additional 1,358 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Bancorp during the 2nd quarter worth approximately $170,000. Assenagon Asset Management S.A. acquired a new position in Bancorp during the 2nd quarter worth approximately $3,014,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in Bancorp by 21.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 36,200 shares of the bank’s stock worth $2,061,000 after purchasing an additional 6,400 shares during the period. Institutional investors and hedge funds 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 the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $75.14, for a total transaction of $941,654.48. Following the transaction, the chief operating officer owned 110,107 shares of the company’s stock, valued at $8,273,439.98. This represents a 10.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Ryan Harris sold 9,841 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total value of $751,557.17. Following the transaction, the executive vice president directly owned 129,598 shares in the company, valued at approximately $9,897,399.26. This represents a 7.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 2,462 shares of company stock worth $157,786 and sold 322,841 shares worth $20,990,025. 5.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Barclays reiterated a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Oppenheimer reiterated an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. Morgan Stanley reiterated an “overweight” rating and set a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Finally, Jefferies Financial Group upgraded Bancorp to a “buy” rating in a report on Monday, July 7th. 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 company’s stock. Based on data from MarketBeat.com, Bancorp presently has an average rating of “Buy” and an average target price of $62.00.

Bancorp Stock Performance

TBBK opened at $77.32 on Monday. The stock has a market cap of $3.56 billion, a P/E ratio of 16.63 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 simple moving average is $71.29 and its 200 day simple moving average is $59.19. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $80.76.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 million. 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.

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.