SummerHaven Investment Management LLC bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 19,010 shares of the bank’s stock, valued at approximately $1,017,000.
Other hedge funds also recently modified their holdings of the company. Congress Asset Management Co. grew its position in shares of Bancorp by 21.3% during the 3rd quarter. Congress Asset Management Co. now owns 347,585 shares of the bank’s stock worth $16,740,000 after buying an additional 61,054 shares during the period. Versant Capital Management Inc raised its stake in shares of Bancorp by 177.3% during the third quarter. Versant Capital Management Inc now owns 1,198 shares of the bank’s stock worth $58,000 after buying an additional 766 shares during the last quarter. Tidal Investments LLC raised its stake in shares of Bancorp by 51.1% during the second quarter. Tidal Investments LLC now owns 23,723 shares of the bank’s stock worth $1,486,000 after buying an additional 8,021 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in Bancorp by 4.6% in the second quarter. WINTON GROUP Ltd now owns 23,675 shares of the bank’s stock valued at $1,483,000 after buying an additional 1,032 shares during the period. Finally, Engineers Gate Manager LP lifted its holdings in Bancorp by 20.0% in the second quarter. Engineers Gate Manager LP now owns 24,012 shares of the bank’s stock valued at $1,504,000 after buying an additional 3,998 shares during the period. Institutional investors own 96.22% of the company’s stock.
Wall Street Analysts Forecast Growth
TBBK has been the topic of a number of recent research reports. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Bank of America reaffirmed a “buy” rating on shares of Bancorp in a report on Monday, July 20th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $79.00 target price (up from $77.00) on shares of Bancorp in a research report on Monday, August 3rd. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (down from $86.00) on shares of Bancorp in a research report on Thursday, September 17th. Finally, Raymond James Financial set a $88.00 price target on Bancorp in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $69.33.
Check Out Our Latest Stock Analysis on Bancorp
Bancorp Trading Up 1.2%
NASDAQ:TBBK opened at $49.60 on Friday. The Bancorp, Inc. has a 1-year low of $47.01 and a 1-year high of $80.56. The business’s 50-day moving average price is $57.30 and its two-hundred day moving average price is $59.12. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.32 and a beta of 1.25.
Bancorp (NASDAQ:TBBK – Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.09. The firm had revenue of $137.74 million for the quarter, compared to analysts’ expectations of $166.69 million. Bancorp had a return on equity of 32.32% and a net margin of 27.72%. Bancorp has set its Q4 2026 guidance at 1.650-1.750 EPS and its FY 2026 guidance at 5.950-6.050 EPS. On average, equities analysts expect that The Bancorp, Inc. will post 5.97 earnings per share for the current year.
Insider Activity at Bancorp
In related news, CAO Martin Egan sold 3,057 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $72.03, for a total value of $220,195.71. Following the sale, the chief accounting officer directly owned 30,219 shares in the company, valued at $2,176,674.57. This trade represents a 9.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.00% of the stock is currently owned by company insiders.
Bancorp Profile
The Bancorp, Inc (NASDAQ:TBBK) is a financial technology and specialty banking company headquartered in Wilmington, Delaware. Through its subsidiary, The Bancorp Bank, National Association, the company provides banking and payment services primarily to financial technology companies, businesses, institutional clients and consumers.
The company’s offerings include payment acceptance and processing, card issuance and management, automated clearing house (ACH) services, prepaid and debit card programs, and deposit accounts.
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