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

New York State Common Retirement Fund trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 3.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,001 shares of the bank’s stock after selling 650 shares during the quarter. New York State Common Retirement Fund’s holdings in Bancorp were worth $898,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TBBK. GAMMA Investing LLC increased its holdings in Bancorp by 45.2% during the first quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after buying an additional 456 shares during the period. New Age Alpha Advisors LLC purchased a new position in Bancorp in the fourth quarter worth $139,000. Ethic Inc. purchased a new position in Bancorp in the fourth quarter worth $209,000. Wedbush Securities Inc. purchased a new position in Bancorp in the fourth quarter worth $213,000. Finally, Yorktown Management & Research Co Inc purchased a new position in Bancorp in the first quarter worth $227,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Bancorp Trading Down 8.5%

NASDAQ:TBBK opened at $63.67 on Friday. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $70.63. The firm has a fifty day simple moving average of $56.93 and a 200-day simple moving average of $54.36. 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 company has a market capitalization of $2.97 billion, a P/E ratio of 13.69 and a beta of 1.25.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.26 by $0.01. Bancorp had a net margin of 28.45% and a return on equity of 27.65%. The business had revenue of $138.00 million during the quarter, compared to the consensus estimate of $94.87 million. On average, equities research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Jefferies Financial Group raised shares of Bancorp to a “buy” rating in a report on Monday, July 7th. Barclays reaffirmed a “buy” rating on shares of Bancorp in a report on Monday, July 7th. Oppenheimer reaffirmed an “outperform” rating on shares of Bancorp in a report on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $65.00 price target on shares of Bancorp in a report on Friday, July 11th. Finally, Raymond James Financial raised shares of Bancorp from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Bancorp has a consensus rating of “Moderate Buy” and a consensus price target 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.