Geode Capital Management LLC Buys 7,405 Shares of The Bancorp, Inc. $TBBK

Geode Capital Management LLC boosted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 0.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,373,686 shares of the bank’s stock after buying an additional 7,405 shares during the quarter. Geode Capital Management LLC owned 2.94% of Bancorp worth $78,266,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Bancorp by 20.7% in the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank’s stock worth $143,354,000 after acquiring an additional 466,139 shares during the last quarter. Jupiter Asset Management Ltd. raised its position in Bancorp by 741.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank’s stock worth $22,665,000 after purchasing an additional 377,993 shares during the period. American Century Companies Inc. lifted its stake in Bancorp by 9.8% in the first quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank’s stock worth $138,908,000 after purchasing an additional 235,303 shares during the last quarter. Nuveen LLC bought a new stake in Bancorp in the first quarter worth about $11,417,000. Finally, Wellington Management Group LLP boosted its position in shares of Bancorp by 5.4% during the first quarter. Wellington Management Group LLP now owns 1,821,497 shares of the bank’s stock valued at $96,248,000 after buying an additional 93,586 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Trading Up 4.3%

Shares of TBBK opened at $62.03 on Friday. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $81.65. The company has a 50-day moving average of $71.83 and a 200 day moving average of $65.13. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 13.34 and a beta of 1.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

Insiders Place Their Bets

In other news, CFO Dominic C. Canuso bought 1,800 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was acquired at an average cost of $61.24 per share, with a total value of $110,232.00. Following the transaction, the chief financial officer directly owned 3,500 shares in the company, valued at approximately $214,340. This trade represents a 105.88% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Gregor J. Garry sold 12,532 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $75.14, for a total value of $941,654.48. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,841 shares of company stock worth $1,729,716 in the last ninety days. 5.60% of the stock is owned by company 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.