The Bancorp, Inc. (NASDAQ:TBBK) Stock Holdings Lowered by Arizona State Retirement System

Arizona State Retirement System reduced its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,032 shares of the bank’s stock after selling 455 shares during the quarter. Arizona State Retirement System’s holdings in Bancorp were worth $689,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TBBK. GAMMA Investing LLC raised its stake in Bancorp by 45.2% during the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after purchasing an additional 456 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in Bancorp during the 4th quarter valued at $139,000. Ethic Inc. acquired a new position in Bancorp during the 4th quarter valued at $209,000. Wedbush Securities Inc. acquired a new position in Bancorp during the 4th quarter valued at $213,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Bancorp in the 1st quarter valued at $227,000. Institutional investors and hedge funds own 96.22% of the company’s stock.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $69.23 on Tuesday. The business’s 50 day moving average is $55.53 and its 200-day moving average is $53.84. 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 $69.90. The firm has a market cap of $3.23 billion, a P/E ratio of 15.63 and a beta of 1.25.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Barclays reiterated a “buy” rating on shares of Bancorp in a research report on Monday, July 7th. Raymond James Financial upgraded shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday, July 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a report on Friday, July 11th. Oppenheimer restated an “outperform” rating on shares of Bancorp in a research report on Friday. Finally, Wall Street Zen cut shares of Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.