Teacher Retirement System of Texas Has $606,000 Stock Position in The Bancorp, Inc. (NASDAQ:TBBK)

Teacher Retirement System of Texas boosted its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 44.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,472 shares of the bank’s stock after buying an additional 3,552 shares during the quarter. Teacher Retirement System of Texas’ holdings in Bancorp were worth $606,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. SummerHaven Investment Management LLC increased its holdings in shares of Bancorp by 1.2% during the 1st quarter. SummerHaven Investment Management LLC now owns 19,246 shares of the bank’s stock valued at $1,017,000 after acquiring an additional 236 shares during the last quarter. Arete Wealth Advisors LLC boosted its position in Bancorp by 2.6% during the fourth quarter. Arete Wealth Advisors LLC now owns 9,585 shares of the bank’s stock worth $508,000 after purchasing an additional 242 shares during the period. Napa Wealth Management grew its holdings in Bancorp by 3.8% during the fourth quarter. Napa Wealth Management now owns 6,940 shares of the bank’s stock valued at $365,000 after purchasing an additional 255 shares during the last quarter. First Hawaiian Bank raised its position in shares of Bancorp by 3.3% in the first quarter. First Hawaiian Bank now owns 12,136 shares of the bank’s stock valued at $641,000 after purchasing an additional 385 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Bancorp by 3.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,074 shares of the bank’s stock worth $635,000 after buying an additional 408 shares during the last quarter. 96.22% of the stock is currently owned by institutional investors.

Bancorp Price Performance

Shares of NASDAQ:TBBK opened at $67.10 on Wednesday. The firm has a market capitalization of $3.13 billion, a PE ratio of 15.15 and a beta of 1.25. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.15. The Bancorp, Inc. has a 1-year low of $40.51 and a 1-year high of $68.95. The business’s 50 day moving average is $54.54 and its 200-day moving average is $53.51.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The business had revenue of $175.39 million during the quarter, compared to analyst estimates of $108.88 million. Bancorp had a net margin of 28.45% and a return on equity of 27.31%. Sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on TBBK. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $65.00 target price on shares of Bancorp in a report on Friday, July 11th. Jefferies Financial Group raised Bancorp to a “buy” rating in a research report on Monday, July 7th. Wall Street Zen downgraded Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, May 21st. Barclays reaffirmed a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. Finally, Raymond James Financial raised Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $65.33.

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.