Nuveen LLC Makes New Investment in The Bancorp, Inc. $TBBK

Nuveen LLC bought a new position in The Bancorp, Inc. (NASDAQ:TBBK) in the first quarter, HoldingsChannel reports. The fund bought 216,063 shares of the bank’s stock, valued at approximately $11,417,000.

A number of other hedge funds have also bought and sold shares of the business. Invesco Ltd. increased its position in shares of Bancorp by 20.7% during 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 last quarter. Janus Henderson Group PLC increased its position in shares of Bancorp by 3.6% during the 4th quarter. Janus Henderson Group PLC now owns 983,898 shares of the bank’s stock valued at $51,783,000 after purchasing an additional 33,943 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Bancorp by 65.7% during the 4th quarter. Nantahala Capital Management LLC now owns 974,455 shares of the bank’s stock valued at $51,286,000 after purchasing an additional 386,295 shares during the last quarter. Deutsche Bank AG increased its position in shares of Bancorp by 7.9% during the 4th quarter. Deutsche Bank AG now owns 889,550 shares of the bank’s stock valued at $46,817,000 after purchasing an additional 65,179 shares during the last quarter. Finally, Emerald Advisers LLC increased its position in shares of Bancorp by 63.1% during 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 last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling at Bancorp

In other news, CEO Damian Kozlowski sold 141,213 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $64.84, for a total value of $9,156,250.92. Following the transaction, the chief executive officer owned 816,443 shares of the company’s stock, valued at approximately $52,938,164.12. The trade was a 14.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Cohn bought 1,350 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was acquired at an average cost of $64.80 per share, with a total value of $87,480.00. Following the completion of the acquisition, the director owned 1,350 shares of the company’s stock, valued at $87,480. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,462 shares of company stock worth $157,786 and sold 300,000 shares worth $19,260,310. 5.60% of the stock is currently owned by insiders.

Bancorp Price Performance

TBBK stock opened at $72.73 on Friday. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $72.87. The company’s fifty day moving average price is $62.31 and its 200-day moving average price is $55.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91. The company has a market capitalization of $3.35 billion, a PE ratio of 15.64 and a beta of 1.30.

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

Analysts Set New Price Targets

Several research firms have recently commented on TBBK. Wall Street Zen lowered shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. Oppenheimer reaffirmed an “outperform” rating on shares of Bancorp in a research report on Friday, July 18th. Barclays reissued a “buy” rating on shares of Bancorp in a report on Monday, July 7th. Jefferies Financial Group raised shares of Bancorp to a “buy” rating in a report on Monday, July 7th. Finally, Raymond James Financial raised shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $62.00.

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.