Whittier Trust Co. Grows Stock Holdings in The Bancorp, Inc. $TBBK

Whittier Trust Co. raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,718 shares of the bank’s stock after acquiring an additional 2,959 shares during the quarter. Whittier Trust Co. owned approximately 0.29% of Bancorp worth $7,675,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TBBK. Quarry LP purchased a new position in shares of Bancorp in the first quarter valued at about $39,000. Brooklyn Investment Group purchased a new position in shares of Bancorp in the first quarter valued at about $58,000. GAMMA Investing LLC increased its position in shares of Bancorp by 45.2% in the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after acquiring an additional 456 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in shares of Bancorp in the first quarter valued at about $169,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Bancorp during the second quarter valued at about $170,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TBBK. Jefferies Financial Group upgraded shares of Bancorp to a “buy” rating in a research report on Monday, July 7th. 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 price target on shares of Bancorp in a research report on Friday, July 11th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $52.00 price target 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 two have assigned a Hold rating to the stock. According to MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $62.00.

Insider Buying and Selling at Bancorp

In other news, EVP Ryan Harris sold 9,841 shares of the company’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 transaction, the executive vice president owned 129,598 shares in the company, valued at approximately $9,897,399.26. This represents a 7.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gregor J. Garry sold 12,532 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer owned 110,107 shares in the company, valued at approximately $8,273,439.98. This represents a 10.22% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,462 shares of company stock worth $157,786 and sold 322,841 shares worth $20,990,025. Corporate insiders own 5.20% of the company’s stock.

Bancorp Trading Up 1.7%

NASDAQ:TBBK opened at $74.92 on Wednesday. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. 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 company’s 50-day simple moving average is $74.81 and its 200 day simple moving average is $61.80. The firm has a market capitalization of $3.45 billion, a P/E ratio of 16.11 and a beta of 1.31.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data 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 net margin of 27.16% and a return on equity of 27.24%. The business 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, analysts forecast 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.