Hennessy Advisors Inc. Takes $968,000 Position in The Bancorp, Inc. $TBBK

Hennessy Advisors Inc. acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 17,000 shares of the bank’s stock, valued at approximately $968,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Bancorp by 5.6% during the second quarter. Janney Montgomery Scott LLC now owns 6,575 shares of the bank’s stock valued at $375,000 after buying an additional 350 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Bancorp by 1.7% during the second 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 last quarter. Kendall Capital Management boosted its position in shares of Bancorp by 1.9% during the second 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 last quarter. State of Alaska Department of Revenue boosted its position in shares of Bancorp by 5.1% during the second quarter. State of Alaska Department of Revenue now owns 27,796 shares of the bank’s stock valued at $1,582,000 after buying an additional 1,358 shares during the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Bancorp during the second quarter valued at approximately $170,000. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on TBBK shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $65.00 target price on shares of Bancorp in a research report on Friday, July 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bancorp in a research report on Saturday, September 27th. Jefferies Financial Group raised Bancorp to a “buy” rating in a research report on Monday, July 7th. Barclays reaffirmed a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $52.00 price objective on shares of Bancorp in a research report on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $62.00.

Bancorp Stock Performance

NASDAQ:TBBK opened at $76.14 on Friday. 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 Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $80.76. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 16.37 and a beta of 1.31. The business’s fifty day moving average is $71.99 and its 200 day moving average is $59.92.

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

Insider Buying and Selling

In related news, COO Gregor J. Garry sold 12,532 shares of the business’s stock in a transaction on 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 directly owned 110,107 shares in the company, valued at approximately $8,273,439.98. The trade was a 10.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Damian Kozlowski sold 39,659 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $62.74, for a total value of $2,488,205.66. Following the sale, the chief executive officer owned 657,656 shares in the company, valued at approximately $41,261,337.44. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 2,462 shares of company stock valued at $157,786 and have sold 322,841 shares valued at $20,990,025. 5.60% of the stock is owned by company insiders.

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.