Corton Capital Inc. Buys Shares of 4,279 The Bancorp, Inc. $TBBK

Corton Capital Inc. purchased a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,279 shares of the bank’s stock, valued at approximately $244,000.

A number of other large investors have also added to or reduced their stakes in TBBK. GAMMA Investing LLC raised its stake in shares of Bancorp by 45.2% during the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after acquiring an additional 456 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Bancorp by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 16,752 shares of the bank’s stock worth $897,000 after purchasing an additional 5,872 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Bancorp by 44.8% in the first quarter. Teacher Retirement System of Texas now owns 11,472 shares of the bank’s stock valued at $606,000 after purchasing an additional 3,552 shares during the period. Principal Financial Group Inc. raised its position in Bancorp by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 313,095 shares of the bank’s stock worth $16,544,000 after purchasing an additional 8,486 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in Bancorp during the 1st quarter worth about $236,000. Institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling at Bancorp

In related news, COO Gregor J. Garry sold 12,532 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 110,107 shares of the company’s stock, valued at approximately $8,273,439.98. This represents a 10.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ryan Harris sold 9,841 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total value of $751,557.17. Following the completion of the transaction, the executive vice president owned 129,598 shares in the company, valued at approximately $9,897,399.26. The trade was a 7.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,841 shares of company stock valued at $1,729,716. Insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

TBBK has been the subject of several recent research reports. Oppenheimer reissued an “outperform” rating on shares of Bancorp in a research note on Friday, July 18th. Morgan Stanley reissued an “overweight” rating and set a $52.00 target price on shares of Bancorp in a research report on Friday, July 18th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $65.00 price objective on shares of Bancorp in a research note on Friday, July 11th. Finally, Barclays reiterated a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $62.00.

Bancorp Price Performance

Shares of TBBK opened at $62.93 on Tuesday. The firm has a market cap of $2.90 billion, a PE ratio of 13.53 and a beta of 1.31. The Bancorp, Inc. has a 52-week low of $40.51 and a 52-week high of $81.65. The business’s 50 day moving average price is $75.93 and its two-hundred day moving average price is $63.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.91.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 30th. The bank reported $1.18 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.16). Bancorp had a net margin of 27.16% and a return on equity of 27.24%. The company had revenue of $174.61 million during the quarter, compared to the consensus estimate of $99.60 million. Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. On average, equities analysts anticipate that The Bancorp, Inc. will post 5.31 EPS for the current year.

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.