The Bancorp, Inc. (NASDAQ:TBBK) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 20.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 26,747 shares of the bank’s stock after purchasing an additional 4,464 shares during the period. New York State Teachers Retirement System’s holdings in Bancorp were worth $1,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carmel Capital Partners LLC acquired a new stake in Bancorp during the 3rd quarter worth about $34,000. Advisor Group Holdings Inc. grew its position in Bancorp by 325.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after purchasing an additional 935 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in Bancorp during the 2nd quarter worth about $45,000. Federated Hermes Inc. boosted its stake in shares of Bancorp by 28.1% during the 3rd quarter. Federated Hermes Inc. now owns 2,279 shares of the bank’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Bancorp during the 4th quarter worth about $56,000. 96.22% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TBBK has been the topic of several recent analyst reports. Raymond James increased their target price on shares of Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Keefe, Bruyette & Woods lowered their target price on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, April 5th. Piper Sandler increased their target price on shares of Bancorp from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Thursday, December 21st. Finally, StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th.

Bancorp Trading Up 1.7 %

Shares of Bancorp stock opened at $32.84 on Thursday. The firm has a market capitalization of $1.72 billion, a PE ratio of 9.38 and a beta of 1.45. The Bancorp, Inc. has a twelve month low of $25.97 and a twelve month high of $47.11. The firm’s 50-day moving average price is $37.42 and its 200 day moving average price is $38.01. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The firm had revenue of $119.15 million for the quarter, compared to analyst estimates of $118.52 million. Bancorp had a net margin of 30.94% and a return on equity of 26.16%. On average, sell-side analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity at Bancorp

In related news, Director Daniela Mielke purchased 3,315 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average cost of $45.13 per share, with a total value of $149,605.95. Following the purchase, the director now owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Bancorp news, Director Daniela Mielke acquired 3,315 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average price of $45.13 per share, for a total transaction of $149,605.95. Following the acquisition, the director now owns 26,715 shares in the company, valued at $1,205,647.95. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Cohn acquired 2,485 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $34.21 per share, with a total value of $85,011.85. Following the acquisition, the director now owns 157,627 shares in the company, valued at approximately $5,392,419.67. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 7,800 shares of company stock valued at $308,838. 4.30% of the stock is owned by corporate insiders.

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.