The Bancorp, Inc. $TBBK Stock Position Raised by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 735.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 139,489 shares of the bank’s stock after acquiring an additional 122,784 shares during the period. New York State Common Retirement Fund owned about 0.30% of Bancorp worth $10,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TBBK. Lazard Asset Management LLC bought a new stake in shares of Bancorp in the 2nd quarter worth approximately $53,000. Covestor Ltd increased its position in Bancorp by 3,525.0% in the third quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock worth $76,000 after buying an additional 987 shares during the period. GAMMA Investing LLC increased its position in Bancorp by 19.7% in the third quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock worth $119,000 after buying an additional 261 shares during the period. Strs Ohio bought a new stake in Bancorp in the third quarter valued at $127,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Bancorp by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock valued at $157,000 after acquiring an additional 169 shares during the period. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Stock Performance

Shares of NASDAQ TBBK opened at $60.63 on Wednesday. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65. The firm has a market cap of $2.66 billion, a P/E ratio of 12.32 and a beta of 1.31. The stock has a fifty day moving average price of $67.83 and a two-hundred day moving average price of $69.72. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.88.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings data on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a net margin of 26.15% and a return on equity of 28.91%. The firm had revenue of $132.21 million during the quarter, compared to analyst estimates of $101.10 million. Research analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insider Activity at Bancorp

In other Bancorp news, CFO Dominic C. Canuso bought 1,800 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average cost of $61.24 per share, with a total value of $110,232.00. Following the completion of the purchase, the chief financial officer directly owned 3,500 shares in the company, valued at approximately $214,340. This trade represents a 105.88% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 5.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on TBBK shares. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Bancorp in a report on Wednesday, January 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a research report on Monday, December 29th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Finally, William Blair set a $60.00 price objective on Bancorp in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $58.50.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.