Loomis Sayles & Co. L P Reduces Holdings in The Bancorp, Inc. $TBBK

Loomis Sayles & Co. L P trimmed its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 684,758 shares of the bank’s stock after selling 16,485 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Bancorp were worth $39,011,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TBBK. Ethic Inc. lifted its position in Bancorp by 4.5% in the second quarter. Ethic Inc. now owns 4,177 shares of the bank’s stock valued at $239,000 after purchasing an additional 178 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Bancorp by 1.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 16,200 shares of the bank’s stock valued at $923,000 after buying an additional 307 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in Bancorp by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 19,564 shares of the bank’s stock valued at $1,115,000 after buying an additional 318 shares during the period. Kendall Capital Management boosted its position in Bancorp by 1.9% during the 2nd quarter. Kendall Capital Management now owns 17,270 shares of the bank’s stock valued at $984,000 after buying an additional 325 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Bancorp by 5.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,575 shares of the bank’s stock worth $375,000 after acquiring an additional 350 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Stock Down 0.2%

Shares of Bancorp stock opened at $64.04 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The company has a market cap of $2.81 billion, a P/E ratio of 13.77 and a beta of 1.34. The company’s fifty day simple moving average is $70.49 and its two-hundred day simple moving average is $65.52.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, October 30th. The bank reported $1.18 earnings per share (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. Research analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

Insider Activity

In other Bancorp news, CFO Dominic C. Canuso bought 1,800 shares of the company’s 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 acquisition, the chief financial officer owned 3,500 shares in the company, valued at approximately $214,340. This represents a 105.88% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Ryan Harris sold 9,841 shares of Bancorp stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $76.37, for a total transaction of $751,557.17. Following the transaction, the executive vice president directly owned 129,598 shares of the company’s stock, valued at approximately $9,897,399.26. This trade represents a 7.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,841 shares of company stock worth $1,729,716. Corporate insiders own 5.60% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Monday, November 24th. One investment 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 stock. Based on data from MarketBeat.com, Bancorp has an average rating of “Moderate Buy” and an average price target 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.