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

Hennessy Advisors Inc. lifted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 76.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 30,000 shares of the bank’s stock after acquiring an additional 13,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Bancorp were worth $2,247,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Quarry LP bought a new stake in shares of Bancorp in the first quarter valued at approximately $39,000. Royal Bank of Canada grew its position in Bancorp by 98.2% during the first quarter. Royal Bank of Canada now owns 76,696 shares of the bank’s stock worth $4,052,000 after buying an additional 37,993 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Bancorp during the first quarter worth about $587,000. Amundi increased its holdings in shares of Bancorp by 8.1% in the 1st quarter. Amundi now owns 26,162 shares of the bank’s stock worth $1,281,000 after buying an additional 1,967 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Bancorp by 15.9% in the first quarter. AQR Capital Management LLC now owns 16,734 shares of the bank’s stock worth $884,000 after acquiring an additional 2,296 shares in the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Stock Down 1.1%

NASDAQ:TBBK opened at $67.52 on Friday. The firm’s 50-day moving average price is $66.73 and its 200-day moving average price is $68.07. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $81.65. The company has a market capitalization of $2.97 billion, a PE ratio of 14.10 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 announced 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). Bancorp had a return on equity of 27.97% and a net margin of 26.15%.The firm had revenue of $134.82 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 predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Transactions at Bancorp

In other news, CFO Dominic C. Canuso bought 1,800 shares of Bancorp stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average cost of $61.24 per share, with a total value of $110,232.00. Following the acquisition, the chief financial officer owned 3,500 shares of the company’s stock, valued at $214,340. The trade was a 105.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Bancorp 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.