JPMorgan Chase & Co. Reduces Stock Holdings in The Bancorp, Inc. $TBBK

JPMorgan Chase & Co. reduced its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 31.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 253,391 shares of the bank’s stock after selling 114,985 shares during the quarter. JPMorgan Chase & Co. owned 0.54% of Bancorp worth $14,436,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TBBK. Cetera Investment Advisers grew its position in Bancorp by 447.5% during the second quarter. Cetera Investment Advisers now owns 24,112 shares of the bank’s stock valued at $1,374,000 after buying an additional 19,708 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Bancorp by 5.0% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,992 shares of the bank’s stock worth $683,000 after acquiring an additional 574 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bancorp by 0.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,373,686 shares of the bank’s stock valued at $78,266,000 after acquiring an additional 7,405 shares during the period. Jupiter Asset Management Ltd. increased its stake in shares of Bancorp by 20.9% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 518,595 shares of the bank’s stock worth $29,544,000 after purchasing an additional 89,653 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in shares of Bancorp by 47.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 39,541 shares of the bank’s stock worth $2,253,000 after purchasing an additional 12,660 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 1st. One research 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 company’s stock. Based on data from MarketBeat, Bancorp has a consensus rating of “Buy” and an average target price of $62.00.

Insider Transactions at Bancorp

In related news, EVP Ryan Harris sold 9,841 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the completion of the sale, the executive vice president owned 129,598 shares in the company, valued at approximately $9,897,399.26. This trade represents a 7.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dominic C. Canuso purchased 1,800 shares of the company’s stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $61.24 per share, with a total value of $110,232.00. Following the completion of the purchase, the chief financial officer directly owned 3,500 shares in the company, valued at $214,340. This trade represents a 105.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 5.60% of the company’s stock.

Bancorp Stock Up 0.5%

Shares of TBBK stock opened at $65.99 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 Bancorp, Inc. has a one year low of $40.51 and a one year high of $81.65. The company’s fifty day moving average price is $69.29 and its 200-day moving average price is $65.92. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 13.78 and a beta of 1.29.

Bancorp (NASDAQ:TBBK) last issued its earnings results 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). 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. Sell-side analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

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.