New York State Teachers Retirement System Grows Stake in The Bancorp, Inc. (NASDAQ:TBBK)

New York State Teachers Retirement System boosted its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,747 shares of the bank’s stock after purchasing an additional 4,464 shares during the period. New York State Teachers Retirement System’s holdings in Bancorp were worth $1,031,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in Bancorp by 79.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 88,285 shares of the bank’s stock valued at $3,404,000 after purchasing an additional 38,961 shares in the last quarter. Raymond James & Associates raised its holdings in Bancorp by 43.3% during the fourth quarter. Raymond James & Associates now owns 13,244 shares of the bank’s stock valued at $511,000 after acquiring an additional 4,002 shares during the period. SG Americas Securities LLC bought a new stake in Bancorp during the fourth quarter valued at about $224,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Bancorp by 89.3% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 127,192 shares of the bank’s stock valued at $4,904,000 after acquiring an additional 60,016 shares during the period. Finally, Whittier Trust Co. raised its holdings in Bancorp by 89.6% during the fourth quarter. Whittier Trust Co. now owns 235,965 shares of the bank’s stock valued at $9,099,000 after acquiring an additional 111,497 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Bancorp

In related news, Director Daniela Mielke acquired 3,315 shares of Bancorp stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniela Mielke acquired 3,315 shares of Bancorp stock in a transaction on Wednesday, January 31st. The shares were bought at an average cost of $45.13 per share, with a total value of $149,605.95. Following the completion of the purchase, the director now directly owns 26,715 shares of the company’s stock, valued at approximately $1,205,647.95. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Cohn acquired 2,485 shares of Bancorp stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the completion of the purchase, the director now directly owns 157,627 shares of the company’s stock, valued at $5,392,419.67. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 7,800 shares of company stock valued at $308,838. 4.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on TBBK. Keefe, Bruyette & Woods decreased their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Friday, April 5th. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Raymond James raised their price target on Bancorp from $42.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, January 29th. Finally, Piper Sandler lifted their target price on Bancorp from $49.00 to $51.00 and gave the stock an “overweight” rating in a report on Thursday, December 21st.

Bancorp Trading Up 1.7 %

Shares of TBBK stock opened at $32.84 on Thursday. The Bancorp, Inc. has a 12-month low of $25.97 and a 12-month high of $47.11. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $37.42 and its 200-day moving average price is $38.01. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 9.38 and a beta of 1.45.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The firm had revenue of $119.15 million for the quarter, compared to analysts’ expectations of $118.52 million. Equities research analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

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.