California State Teachers Retirement System Lowers Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

California State Teachers Retirement System trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,572 shares of the bank’s stock after selling 1,512 shares during the quarter. California State Teachers Retirement System owned 0.12% of Bancorp worth $1,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Holdings Inc. raised its position in Bancorp by 325.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock valued at $35,000 after purchasing an additional 935 shares in the last quarter. JPMorgan Chase & Co. raised its position in Bancorp by 121.4% in the 1st quarter. JPMorgan Chase & Co. now owns 77,368 shares of the bank’s stock valued at $2,192,000 after purchasing an additional 42,423 shares in the last quarter. Raymond James & Associates raised its position in Bancorp by 15.8% in the 1st quarter. Raymond James & Associates now owns 19,287 shares of the bank’s stock valued at $546,000 after purchasing an additional 2,638 shares in the last quarter. Bank of New York Mellon Corp raised its position in Bancorp by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 542,380 shares of the bank’s stock valued at $15,366,000 after purchasing an additional 12,020 shares in the last quarter. Finally, US Bancorp DE acquired a new stake in Bancorp in the 1st quarter valued at about $87,000. 91.52% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Up 1.2 %

TBBK opened at $36.77 on Wednesday. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 12.18 and a beta of 1.47. The Bancorp, Inc. has a 52 week low of $21.58 and a 52 week high of $41.52. The business’s 50 day moving average is $36.11 and its two-hundred day moving average is $32.93. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 0.16.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.86 by $0.03. The company had revenue of $116.53 million for the quarter, compared to analyst estimates of $114.39 million. Bancorp had a return on equity of 23.87% and a net margin of 30.71%. On average, research analysts predict that The Bancorp, Inc. will post 3.66 EPS for the current year.

Insider Buying and Selling at Bancorp

In related news, Director Matthew Cohn bought 2,500 shares of the stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $36.01 per share, for a total transaction of $90,025.00. Following the purchase, the director now owns 27,853 shares of the company’s stock, valued at approximately $1,002,986.53. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Matthew Cohn bought 2,500 shares of the stock in a transaction on Thursday, June 15th. The shares were bought at an average cost of $36.01 per share, for a total transaction of $90,025.00. Following the purchase, the director now owns 27,853 shares of the company’s stock, valued at approximately $1,002,986.53. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Olek Derowe sold 2,750 shares of Bancorp stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $36.44, for a total value of $100,210.00. Following the completion of the sale, the executive vice president now owns 75,803 shares in the company, valued at $2,762,261.32. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Bancorp in a research report on Sunday, August 20th. They set a “hold” rating on the stock. Piper Sandler raised their target price on Bancorp from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, July 31st. Finally, Raymond James raised their target price on Bancorp from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.67.

About Bancorp

The Bancorp, Inc operates as the financial 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, medical savings, money market, individual retirement, and commercial accounts; certificates of deposit; and payroll cards.