The Bancorp, Inc. (NASDAQ:TBBK) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 25.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,403 shares of the bank’s stock after selling 7,579 shares during the quarter. New York State Teachers Retirement System’s holdings in Bancorp were worth $1,199,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TBBK. Nantahala Capital Management LLC acquired a new position in Bancorp in the second quarter valued at $12,757,000. Jupiter Asset Management Ltd. lifted its stake in shares of Bancorp by 71.1% during the first quarter. Jupiter Asset Management Ltd. now owns 396,600 shares of the bank’s stock worth $13,270,000 after purchasing an additional 164,855 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Bancorp by 39.8% during the second quarter. Marshall Wace LLP now owns 337,578 shares of the bank’s stock worth $12,747,000 after purchasing an additional 96,072 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Bancorp by 129.0% during the first quarter. Jane Street Group LLC now owns 124,915 shares of the bank’s stock worth $4,180,000 after purchasing an additional 70,361 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Bancorp by 4.6% during the second quarter. American Century Companies Inc. now owns 1,603,423 shares of the bank’s stock worth $60,545,000 after purchasing an additional 70,178 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler lifted their target price on Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $55.00 target price (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th.

Insider Activity at Bancorp

In other news, Director Matthew Cohn acquired 545 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the acquisition, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Matthew Cohn acquired 545 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was purchased at an average cost of $50.11 per share, with a total value of $27,309.95. Following the completion of the acquisition, the director now directly owns 56,636 shares in the company, valued at $2,838,029.96. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $50.08, for a total value of $568,758.56. Following the transaction, the chief marketing officer now directly owns 23,291 shares of the company’s stock, valued at $1,166,413.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,983 shares of company stock valued at $1,345,366 over the last three months. 5.20% of the stock is owned by insiders.

Bancorp Stock Up 1.9 %

Shares of NASDAQ TBBK opened at $54.59 on Friday. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.26. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 13.79 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.85 and a current ratio of 0.88. The stock’s 50-day simple moving average is $52.36 and its 200-day simple moving average is $44.21.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The business had revenue of $125.84 million for the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 39.22%. During the same period in the previous year, the firm posted $0.92 earnings per share. As a group, equities analysts anticipate that The Bancorp, Inc. will post 4.3 earnings per share for the current fiscal year.

Bancorp Company Profile

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.