First Citizens Bank & Trust Co. Makes New Investment in The Bancorp, Inc. $TBBK

First Citizens Bank & Trust Co. acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,768 shares of the bank’s stock, valued at approximately $657,000.

Other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP lifted its holdings in shares of Bancorp by 445.8% in the 2nd quarter. Quantbot Technologies LP now owns 58,398 shares of the bank’s stock worth $3,327,000 after acquiring an additional 47,699 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Bancorp during the 2nd quarter valued at $968,000. California First Leasing Corp purchased a new position in Bancorp in the 3rd quarter worth $1,850,000. American Century Companies Inc. lifted its stake in Bancorp by 3.3% in the second quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock worth $154,705,000 after purchasing an additional 86,721 shares during the last quarter. Finally, Owls Nest Partners IA LLC lifted its stake in Bancorp by 6.4% in the second quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock worth $72,090,000 after purchasing an additional 75,635 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TBBK. Raymond James Financial reiterated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. William Blair set a $60.00 price objective on Bancorp in a research note on Wednesday, January 21st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.20.

Insiders Place Their Bets

In other news, CFO Dominic C. Canuso bought 1,800 shares of Bancorp stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $61.24 per share, for a total transaction of $110,232.00. Following the acquisition, the chief financial officer 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

Bancorp Stock Up 1.2%

Shares of NASDAQ TBBK opened at $68.34 on Wednesday. The firm has a fifty day simple moving average of $67.59 and a two-hundred day simple moving average of $69.83. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $81.65. The company has a current ratio of 0.91, a quick ratio of 0.89 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $3.00 billion, a PE ratio of 14.27 and a beta of 1.27.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 30th. The bank reported $1.18 earnings per share 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 the consensus estimate of $99.60 million. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Equities analysts expect that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

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.