Jupiter Asset Management Ltd. Has $29.54 Million Stake in The Bancorp, Inc. $TBBK

Jupiter Asset Management Ltd. lifted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 518,595 shares of the bank’s stock after purchasing an additional 89,653 shares during the period. Jupiter Asset Management Ltd.’s holdings in Bancorp were worth $29,544,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TBBK. Quarry LP bought a new position in Bancorp in the 1st quarter valued at $39,000. Brooklyn Investment Group bought a new position in Bancorp in the first quarter valued at about $58,000. Harvest Fund Management Co. Ltd bought a new stake in Bancorp during the 1st quarter worth about $169,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Bancorp during the 2nd quarter valued at about $170,000. Finally, Systematic Alpha Investments LLC acquired a new position in Bancorp during the 1st quarter valued at about $201,000. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Down 1.2%

Shares of NASDAQ TBBK opened at $63.57 on Thursday. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $81.65. 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 stock has a market cap of $2.93 billion, a P/E ratio of 13.67 and a beta of 1.34. The firm has a 50 day moving average price of $74.00 and a 200 day moving average price of $64.61.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, October 30th. The bank reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.16). The firm had revenue of $134.82 million during the quarter, compared to analyst estimates of $99.60 million. Bancorp had a return on equity of 27.24% and a net margin of 27.16%. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Oppenheimer reiterated an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of Bancorp in a research note on Friday, July 18th. Finally, Weiss Ratings upgraded shares of Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $62.00.

Insider Activity

In other news, COO Gregor J. Garry sold 12,532 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $75.14, for a total transaction of $941,654.48. Following the sale, the chief operating officer owned 110,107 shares of the company’s stock, valued at $8,273,439.98. This trade represents a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ryan Harris sold 9,841 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $76.37, for a total value of $751,557.17. Following the completion of the transaction, the executive vice president owned 129,598 shares of the company’s stock, valued at $9,897,399.26. This represents a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,841 shares of company stock worth $1,729,716. Corporate insiders own 5.60% of the company’s stock.

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.