New York State Common Retirement Fund Reduces Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

New York State Common Retirement Fund reduced its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 66.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 38,298 shares of the bank’s stock after selling 75,239 shares during the period. New York State Common Retirement Fund’s holdings in Bancorp were worth $1,477,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC purchased a new stake in shares of Bancorp in the 3rd quarter worth $34,000. Harvest Fund Management Co. Ltd bought a new position in shares of Bancorp in the third quarter worth about $88,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Bancorp during the 3rd quarter valued at approximately $103,000. DekaBank Deutsche Girozentrale purchased a new stake in Bancorp in the 3rd quarter worth approximately $157,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Bancorp during the 3rd quarter worth approximately $183,000. 96.22% of the stock is currently owned by institutional investors.

Bancorp Stock Performance

TBBK opened at $33.05 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 8.98 and a beta of 1.43. The company has a fifty day moving average of $33.81 and a 200 day moving average of $37.80. The Bancorp, Inc. has a fifty-two week low of $28.41 and a fifty-two week high of $47.11.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings data on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter last year, the business earned $0.88 earnings per share. As a group, sell-side analysts forecast that The Bancorp, Inc. will post 4.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the transaction, the executive vice president now owns 15,262 shares of the company’s stock, valued at approximately $491,131.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Bancorp news, Director Hersh Kozlov bought 1,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was acquired at an average price of $32.53 per share, for a total transaction of $32,530.00. Following the completion of the transaction, the director now directly owns 111,264 shares of the company’s stock, valued at $3,619,417.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Jennifer F. Terry sold 11,256 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $32.18, for a total value of $362,218.08. Following the completion of the sale, the executive vice president now owns 15,262 shares in the company, valued at $491,131.16. The disclosure for this sale can be found here. Insiders have bought a total of 6,191 shares of company stock valued at $214,194 in the last quarter. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Raymond James increased their price target on Bancorp from $42.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods lowered their price objective on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Friday, April 5th.

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.