The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 2.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,175 shares of the bank’s stock after selling 397 shares during the quarter. Arizona State Retirement System’s holdings in Bancorp were worth $585,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Bancorp by 2.3% in the first quarter. BlackRock Inc. now owns 8,494,240 shares of the bank’s stock worth $240,641,000 after buying an additional 192,639 shares during the last quarter. FMR LLC grew its position in Bancorp by 3.3% in the third quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock worth $168,355,000 after buying an additional 157,987 shares during the last quarter. Vanguard Group Inc. grew its position in Bancorp by 0.4% in the third quarter. Vanguard Group Inc. now owns 3,562,416 shares of the bank’s stock worth $78,302,000 after buying an additional 13,842 shares during the last quarter. State Street Corp grew its position in Bancorp by 9.6% in the first quarter. State Street Corp now owns 2,735,551 shares of the bank’s stock worth $77,498,000 after buying an additional 239,939 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Bancorp by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,577,944 shares of the bank’s stock worth $71,795,000 after buying an additional 10,005 shares during the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Trading Up 2.3 %

NASDAQ TBBK opened at $33.94 on Friday. The Bancorp, Inc. has a twelve month low of $25.97 and a twelve month high of $47.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.01. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 9.70 and a beta of 1.45. The firm’s 50 day moving average price is $37.03 and its two-hundred day moving average price is $37.98.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $119.15 million during 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%. Equities analysts anticipate that The Bancorp, Inc. will post 4.42 EPS for the current year.

Insider Buying and Selling at Bancorp

In related news, Director Daniela Mielke bought 3,315 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average price of $45.13 per share, with a total value of $149,605.95. Following the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Daniela Mielke bought 3,315 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was bought at an average price of $45.13 per share, with a total value of $149,605.95. Following the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stephanie B. Mudick bought 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were bought at an average cost of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now directly owns 31,584 shares in the company, valued at $1,172,082.24. The disclosure for this purchase can be found here. Insiders purchased 7,800 shares of company stock valued at $308,838 in the last quarter. Company insiders own 4.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Raymond James lifted their price objective on shares of Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th.

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.