State of Alaska Department of Revenue Grows Stake in The Bancorp, Inc. $TBBK

State of Alaska Department of Revenue grew its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,796 shares of the bank’s stock after buying an additional 1,358 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Bancorp worth $1,582,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TBBK. Invesco Ltd. lifted its stake in shares of Bancorp by 20.7% in the 1st quarter. Invesco Ltd. now owns 2,712,975 shares of the bank’s stock valued at $143,354,000 after purchasing an additional 466,139 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of Bancorp by 741.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 428,942 shares of the bank’s stock valued at $22,665,000 after purchasing an additional 377,993 shares during the period. American Century Companies Inc. lifted its stake in shares of Bancorp by 9.8% in the 1st quarter. American Century Companies Inc. now owns 2,628,832 shares of the bank’s stock valued at $138,908,000 after purchasing an additional 235,303 shares during the period. Nuveen LLC purchased a new position in shares of Bancorp in the 1st quarter valued at approximately $11,417,000. Finally, Emerald Advisers LLC lifted its stake in shares of Bancorp by 63.1% in the 1st quarter. Emerald Advisers LLC now owns 548,269 shares of the bank’s stock valued at $28,971,000 after purchasing an additional 212,102 shares during the period. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 2.0%

Bancorp stock opened at $76.14 on Friday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31. The stock has a fifty day simple moving average of $71.99 and a two-hundred day simple moving average of $59.88. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $80.76. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

Bancorp (NASDAQ:TBBK) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $138.00 million during 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. Equities analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bancorp news, Director Matthew Cohn bought 550 shares of Bancorp stock in a transaction on Monday, August 4th. The stock was acquired at an average price of $63.51 per share, with a total value of $34,930.50. Following the acquisition, the director owned 1,900 shares in the company, valued at approximately $120,669. This trade represents a 40.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Damian Kozlowski sold 39,659 shares of Bancorp stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $62.74, for a total value of $2,488,205.66. Following the completion of the sale, the chief executive officer directly owned 657,656 shares of the company’s stock, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 2,462 shares of company stock worth $157,786 and sold 322,841 shares worth $20,990,025. Corporate insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $65.00 target price on shares of Bancorp in a research note on Friday, July 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Bancorp in a research note on Saturday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Bancorp in a research report on Friday, July 18th. Raymond James Financial raised Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Jefferies Financial Group raised Bancorp to a “buy” rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Bancorp 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.