Hsbc Holdings PLC Purchases 11,037 Shares of The Bancorp, Inc. $TBBK

Hsbc Holdings PLC raised its position in The Bancorp, Inc. (NASDAQ:TBBK) by 158.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,991 shares of the bank’s stock after buying an additional 11,037 shares during the quarter. Hsbc Holdings PLC’s holdings in Bancorp were worth $946,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TBBK. Brooklyn Investment Group bought a new stake in shares of Bancorp in the first quarter valued at $58,000. GAMMA Investing LLC raised its stake 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 buying an additional 456 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Bancorp in the first quarter valued at $169,000. Ethic Inc. bought a new stake in shares of Bancorp in the fourth quarter valued at $209,000. Finally, Entropy Technologies LP bought a new stake in shares of Bancorp in the first quarter valued at $209,000. 96.22% of the stock is currently owned by institutional investors.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $76.24 on Friday. The firm has a market capitalization of $3.51 billion, a P/E ratio of 16.40 and a beta of 1.30. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.14. The stock’s 50-day simple moving average is $64.88 and its two-hundred day simple moving average is $56.15. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $78.50.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $138.00 million for the quarter, compared to analyst estimates of $94.87 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 5.250-5.250 EPS. As a group, equities analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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 shares were acquired at an average cost of $64.80 per share, for a total transaction of $87,480.00. Following the purchase, the director directly owned 1,350 shares of the company’s stock, valued at $87,480. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Damian Kozlowski sold 141,213 shares of the company’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 owned 816,443 shares in the company, valued at $52,938,164.12. This represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,462 shares of company stock worth $157,786 and sold 300,000 shares worth $19,260,310. 5.60% of the stock is owned by corporate insiders.

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.