Blue Trust Inc. Increases Stake in The Bancorp, Inc. by Acquiring 263 Shares

On November 3rd, 2024, it was reported that Blue Trust Inc. has significantly increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 72.3% during the third quarter. According to Holdings Channel, this institutional investor now owns a total of 627 shares of the bank’s stock following the acquisition of an additional 263 shares within this period. As per the latest filing with the Securities and Exchange Commission, Blue Trust Inc.’s holdings in The Bancorp were valued at approximately $34,000.

In addition, several other hedge funds have made movements regarding shares of Bancorp. Wealth Enhancement Advisory Services LLC initiated a new position in the bank during the first quarter, which is valued at around $679,000. Meanwhile, Allspring Global Investments Holdings LLC increased its stake in Bancorp by 9.7% during the same quarter, now owning 10,637 shares valued at $356,000 after purchasing an extra 941 shares recently. BNP Paribas Financial Markets also significantly boosted its position in Bancorp by 51.6% during the first quarter, bringing its total to 71,837 shares valued at $2,404,000 after adding 24,453 shares. Records show that Whittier Trust Co. increased its holdings by 4.6%, obtaining a total of 246,914 shares valued at $8,259,000 after buying 10,949 additional shares. Additionally, Whittier Trust Co. of Nevada Inc. raised its holding by 5.7% in the first quarter, now reaching 134,451 shares valued at $4,497,000 after acquiring 7,259 more shares. Currently, it is estimated that 96.22% of Bancorp’s stock is held by hedge funds and other institutional investors.

Recent Insider Trading Activity

In related news, on October 29th, CMO Maria Wainwright sold 11,357 shares of the company. The shares were sold at an average price of $50.08, totaling approximately $568,758.56. Following this transaction, Maria Wainwright now directly owns 23,291 shares valued at about $1,166,413.28. This represents no change in her ownership percentage of the stock. The sale was reported in a filing with the Securities & Exchange Commission, which can be accessed through their website. Similarly, EVP Matthew J. Wallace sold 10,160 shares on the same day for an average price of $50.06, with a total value of $508,609.60. Post-sale, he retains 74,798 shares valued at around $3,744,387.88, indicating no change in ownership percentage as well. Company insiders now hold 5.20% of the total shares of The Bancorp.

Analyst Insights

Recent research reports have highlighted The Bancorp’s stock (TBBK). Notably, Keefe, Bruyette & Woods reaffirmed an “outperform” rating with an increased price target of $55.00, up from $46.00. Piper Sandler also raised their target price on Bancorp shares from $55.00 to $60.00, giving the company an “overweight” rating. Conversely, StockNews.com downgraded Bancorp from a “hold” to a “sell” rating in their recent analysis, indicating varied opinions among analysts.

Bancorp Stock Performance

As of the last trading session, TBBK shares were down 1.2%, opening at $49.65. The company’s fifty-day moving average price stands at $52.21 and the 200-day moving average is $43.48. The Bancorp currently has a market capitalization of $2.43 billion, a P/E ratio of 12.54, and a beta of 1.46. Its debt-to-equity ratio is at 0.18, with a current ratio of 0.88 and a quick ratio of 0.85. Over the past year, the stock has fluctuated between a low of $29.92 and a high of $59.26.

The Bancorp recently released its quarterly earnings results on October 24th, reporting an earnings per share (EPS) of $1.04, falling short of the analysts' average expectations of $1.12 by $0.08. The revenue for the quarter was reported at $125.84 million, below the anticipated $131.34 million. Notably, the bank achieved a net margin of 39.22% and a return on equity of 26.63%. In the same quarter the previous year, the EPS was recorded at $0.92. Analysts predict that The Bancorp, Inc. will report 4.3 EPS for the current fiscal year.

Company Overview

The Bancorp, Inc. serves as the bank holding company for The Bancorp Bank, National Association, providing a wide range of banking products and services across the United States. Their offerings include various deposit products such as checking accounts, savings accounts, time deposits, money market accounts, and commercial accounts, as well as overdraft services and certificates of deposit.

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