Nuveen LLC Acquires Shares of 216,063 The Bancorp, Inc. $TBBK

Nuveen LLC acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 216,063 shares of the bank’s stock, valued at approximately $11,417,000. Nuveen LLC owned 0.45% of Bancorp at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TBBK. GAMMA Investing LLC increased its position in Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after purchasing an additional 456 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in Bancorp during the 1st quarter valued at $169,000. Ethic Inc. purchased a new position in Bancorp during the 4th quarter valued at $209,000. Entropy Technologies LP purchased a new position in Bancorp during the 1st quarter valued at $209,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Bancorp during the 1st quarter valued at $227,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bancorp

In other Bancorp news, Director Matthew Cohn bought 1,350 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was acquired at an average price of $64.80 per share, with a total value of $87,480.00. Following the transaction, the director owned 1,350 shares in the company, valued at $87,480. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Damian Kozlowski sold 141,213 shares of the business’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $64.84, for a total value of $9,156,250.92. Following the completion of the transaction, the chief executive officer directly owned 816,443 shares of the company’s stock, valued at approximately $52,938,164.12. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 2,462 shares of company stock valued at $157,786 and sold 300,000 shares valued at $19,260,310. 5.60% of the stock is currently owned by insiders.

Bancorp Stock Performance

Shares of Bancorp stock opened at $72.73 on Friday. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 15.64 and a beta of 1.30. The firm’s 50-day moving average is $62.31 and its 200 day moving average is $55.69. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $72.87. 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 announced its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The company had revenue of $138.00 million for the quarter, compared to analysts’ expectations of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. Sell-side analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TBBK shares. Keefe, Bruyette & Woods restated a “market perform” rating and set a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Wall Street Zen cut shares of Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Jefferies Financial Group upgraded shares of Bancorp to a “buy” rating in a report on Monday, July 7th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. Finally, Oppenheimer restated an “outperform” rating on shares of Bancorp in a report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $62.00.

Bancorp Company 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.