Hennessy Advisors Inc. Acquires 13,000 Shares of The Bancorp, Inc. $TBBK

Hennessy Advisors Inc. increased its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 76.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,000 shares of the bank’s stock after buying an additional 13,000 shares during the quarter. Hennessy Advisors Inc. owned 0.07% of Bancorp worth $2,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TBBK. Quantbot Technologies LP increased its position in Bancorp by 445.8% during the 2nd quarter. Quantbot Technologies LP now owns 58,398 shares of the bank’s stock worth $3,327,000 after purchasing an additional 47,699 shares in the last quarter. Siena Capital Partners GP LLC bought a new stake in shares of Bancorp during the first quarter worth about $1,057,000. Systematic Alpha Investments LLC bought a new stake in shares of Bancorp during the first quarter worth about $201,000. Cubist Systematic Strategies LLC bought a new position in shares of Bancorp during the first quarter valued at $587,000. Finally, Intech Investment Management LLC raised its position in shares of Bancorp by 22.9% during the first quarter. Intech Investment Management LLC now owns 34,667 shares of the bank’s stock worth $1,832,000 after acquiring an additional 6,460 shares during the last quarter. Institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling

In other Bancorp news, CFO Dominic C. Canuso acquired 1,800 shares of the business’s stock in a transaction on Friday, November 14th. The shares were acquired at an average price of $61.24 per share, with a total value of $110,232.00. Following the completion of the transaction, the chief financial officer owned 3,500 shares in the company, valued at approximately $214,340. This trade represents a 105.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK stock opened at $67.52 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.89. The firm has a 50-day moving average of $66.73 and a 200-day moving average of $68.07. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The company has a market cap of $2.97 billion, a P/E ratio of 14.10 and a beta of 1.27.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data 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 firm 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 27.97% and a net margin of 26.15%.Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Equities research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.33.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.