Whittier Trust Co. Buys 2,959 Shares of The Bancorp, Inc. $TBBK

Whittier Trust Co. boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.2% during the second quarter, Holdings Channel reports. The firm owned 134,718 shares of the bank’s stock after purchasing an additional 2,959 shares during the quarter. Whittier Trust Co.’s holdings in Bancorp were worth $7,675,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TBBK. Invesco Ltd. lifted its position in Bancorp by 20.7% during the first 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 position in Bancorp by 741.9% during the first 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 position in Bancorp by 9.8% during the first 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 stake in Bancorp during the first quarter valued at approximately $11,417,000. Finally, Emerald Advisers LLC increased its holdings in Bancorp by 63.1% during the first quarter. Emerald Advisers LLC now owns 548,269 shares of the bank’s stock valued at $28,971,000 after buying an additional 212,102 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings cut shares of Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Jefferies Financial Group raised shares of Bancorp to a “buy” rating in a report on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Barclays reaffirmed a “buy” rating on shares of Bancorp in a report on Monday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 target price on shares of Bancorp in a report on Friday, July 18th. One equities research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.00.

Insider Activity

In other news, EVP Ryan Harris sold 9,841 shares of the firm’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $76.37, for a total transaction of $751,557.17. Following the sale, the executive vice president directly owned 129,598 shares in the company, valued at $9,897,399.26. This trade represents a 7.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Cohn acquired 550 shares of the firm’s stock in a transaction dated Monday, August 4th. The shares were purchased at an average price of $63.51 per share, for a total transaction of $34,930.50. Following the completion of the transaction, the director directly 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 disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 2,462 shares of company stock valued at $157,786 and have sold 322,841 shares valued at $20,990,025. Company insiders own 5.20% of the company’s stock.

Bancorp Stock Up 1.7%

Shares of TBBK stock opened at $74.92 on Wednesday. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 16.11 and a beta of 1.31. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The company’s fifty day moving average price is $74.81 and its 200-day moving average price is $61.80. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.26 by $0.01. The firm had revenue of $138.00 million for the quarter, compared to the consensus estimate of $94.87 million. Bancorp had a net margin of 27.16% and a return on equity of 27.24%. Bancorp has set its FY 2025 guidance at 5.250-5.250 EPS. Sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

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.