Assenagon Asset Management S.A. Has $3.17 Million Position in The Bancorp, Inc. $TBBK

Assenagon Asset Management S.A. lowered its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 20.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,281 shares of the bank’s stock after selling 10,622 shares during the quarter. Assenagon Asset Management S.A. owned about 0.09% of Bancorp worth $3,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ethic Inc. lifted its stake in shares of Bancorp by 4.5% in the second quarter. Ethic Inc. now owns 4,177 shares of the bank’s stock worth $239,000 after buying an additional 178 shares during the last quarter. Osaic Holdings Inc. grew its stake in Bancorp by 3.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,586 shares of the bank’s stock valued at $318,000 after buying an additional 197 shares during the last quarter. California State Teachers Retirement System raised its holdings in Bancorp by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 42,929 shares of the bank’s stock worth $2,446,000 after acquiring an additional 253 shares during the period. GAMMA Investing LLC lifted its position in Bancorp by 19.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock worth $119,000 after acquiring an additional 261 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in Bancorp by 1.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 16,200 shares of the bank’s stock worth $923,000 after acquiring an additional 307 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bancorp in a research report on Monday, December 15th. 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.com, Bancorp presently has an average rating of “Buy” and an average price target of $61.33.

Bancorp Price Performance

Shares of Bancorp stock opened at $70.39 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.89. The company has a market cap of $3.09 billion, a PE ratio of 14.70 and a beta of 1.29. The firm has a fifty day moving average price of $67.65 and a two-hundred day moving average price of $67.35. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data 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 26.15% and a return on equity of 27.97%. The company had revenue of $134.82 million for the quarter, compared to analyst estimates of $99.60 million. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dominic C. Canuso acquired 1,800 shares of Bancorp stock in a transaction on Friday, November 14th. The stock was bought at an average price of $61.24 per share, for a total transaction of $110,232.00. Following the transaction, the chief financial officer owned 3,500 shares of the company’s stock, valued at $214,340. The trade was a 105.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 5.20% of the stock is currently owned by company insiders.

Bancorp Company Profile

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.