Elgethun Capital Management Boosts Stock Position in The Bancorp, Inc. $TBBK

Elgethun Capital Management increased its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 100.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,559 shares of the bank’s stock after purchasing an additional 111,134 shares during the quarter. Bancorp comprises about 2.5% of Elgethun Capital Management’s holdings, making the stock its 13th largest position. Elgethun Capital Management owned 0.48% of Bancorp worth $12,622,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in TBBK. Quarry LP bought a new position in Bancorp in the 1st quarter worth about $39,000. Brooklyn Investment Group bought a new position in shares of Bancorp in the first quarter valued at approximately $58,000. Harvest Fund Management Co. Ltd purchased a new position in Bancorp during the first quarter valued at approximately $169,000. Financiere des Professionnels Fonds d investissement inc. bought a new stake in Bancorp during the 2nd quarter worth approximately $170,000. Finally, Systematic Alpha Investments LLC bought a new stake in Bancorp during the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Bancorp in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.00.

Bancorp Trading Down 0.2%

Shares of TBBK opened at $64.17 on Thursday. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $81.65. The company has a market capitalization of $2.82 billion, a P/E ratio of 13.80 and a beta of 1.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.91 and a quick ratio of 0.88. The firm’s 50 day simple moving average is $71.08 and its 200 day simple moving average is $65.38.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). The company had revenue of $134.82 million during the quarter, compared to the consensus estimate of $99.60 million. Bancorp had a return on equity of 27.24% and a net margin of 27.16%. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Sell-side analysts forecast that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Bancorp

In other Bancorp news, COO Gregor J. Garry sold 12,532 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $75.14, for a total transaction of $941,654.48. Following the sale, the chief operating officer owned 110,107 shares in the company, valued at $8,273,439.98. This trade represents a 10.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dominic C. Canuso acquired 1,800 shares of Bancorp stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 3,500 shares in the company, valued at approximately $214,340. The trade was a 105.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 22,841 shares of company stock worth $1,729,716 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

Bancorp Company Profile

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.