First Citizens Bank & Trust Co. Makes New $657,000 Investment in The Bancorp, Inc. $TBBK

First Citizens Bank & Trust Co. acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 8,768 shares of the bank’s stock, valued at approximately $657,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP grew its holdings in Bancorp by 445.8% in the second 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 during the period. Hennessy Advisors Inc. bought a new position in Bancorp during the 2nd quarter valued at approximately $968,000. California First Leasing Corp purchased a new position in Bancorp during the third quarter valued at $1,850,000. American Century Companies Inc. raised its stake in Bancorp by 3.3% during the second quarter. American Century Companies Inc. now owns 2,715,553 shares of the bank’s stock valued at $154,705,000 after buying an additional 86,721 shares during the last quarter. Finally, Owls Nest Partners IA LLC boosted its holdings in Bancorp by 6.4% in the second quarter. Owls Nest Partners IA LLC now owns 1,265,404 shares of the bank’s stock worth $72,090,000 after acquiring an additional 75,635 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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. This represents a 105.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

TBBK has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Finally, William Blair set a $60.00 price target on shares of Bancorp in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Bancorp currently has an average rating of “Moderate Buy” and an average target price of $60.20.

Bancorp Trading Up 1.2%

NASDAQ:TBBK opened at $68.34 on Wednesday. The Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The business has a fifty day moving average price of $67.59 and a 200-day moving average price of $69.83. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 14.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.91 and a quick ratio of 0.89.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, October 30th. The bank reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). Bancorp had a net margin of 26.15% and a return on equity of 27.97%. The company had revenue of $134.82 million for the quarter, compared to analysts’ expectations of $99.60 million. 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 EPS for the current year.

Bancorp Company Profile

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.