Loomis Sayles & Co. L P Trims Position in The Bancorp, Inc. $TBBK

Loomis Sayles & Co. L P cut its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 684,758 shares of the bank’s stock after selling 16,485 shares during the period. Loomis Sayles & Co. L P owned 1.49% of Bancorp worth $39,011,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TBBK. Quarry LP purchased a new position in Bancorp during the first quarter valued at approximately $39,000. Brooklyn Investment Group purchased a new position in shares of Bancorp during the 1st quarter valued at $58,000. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Bancorp in the second quarter worth $170,000. Systematic Alpha Investments LLC purchased a new stake in shares of Bancorp in the first quarter worth $201,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Bancorp in the first quarter worth $208,000. 96.22% of the stock is currently owned by institutional investors.

Bancorp Stock Performance

Bancorp stock opened at $64.04 on Friday. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two 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 $2.81 billion, a P/E ratio of 13.77 and a beta of 1.34. The firm’s fifty day moving average price is $70.49 and its 200-day moving average price is $65.52.

Bancorp (NASDAQ:TBBK) last released 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 net margin of 27.16% and a return on equity of 27.24%. The firm 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, equities research analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Activity

In other Bancorp news, CFO Dominic C. Canuso purchased 1,800 shares of Bancorp stock in a transaction on Friday, November 14th. The shares were acquired at an average cost of $61.24 per share, for a total transaction of $110,232.00. Following the completion of the transaction, the chief financial officer directly owned 3,500 shares of the company’s stock, valued at approximately $214,340. The trade was a 105.88% increase in their ownership of the stock. The purchase was disclosed in a filing 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 stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the completion of the sale, the executive vice president owned 129,598 shares of the company’s stock, valued at approximately $9,897,399.26. The trade was a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 22,841 shares of company stock worth $1,729,716. 5.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.00.

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.