The Bancorp, Inc. $TBBK Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 735.0% during the third quarter, Holdings Channel reports. The fund owned 139,489 shares of the bank’s stock after acquiring an additional 122,784 shares during the quarter. New York State Common Retirement Fund’s holdings in Bancorp were worth $10,446,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Lazard Asset Management LLC purchased a new position in Bancorp during the 2nd quarter valued at about $53,000. Covestor Ltd grew 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 acquiring an additional 987 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 261 shares in the last quarter. Strs Ohio bought a new stake in shares of Bancorp during the 3rd quarter worth about $127,000. Finally, Nisa Investment Advisors LLC boosted its position in Bancorp by 8.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock worth $157,000 after purchasing an additional 169 shares during the period. 96.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Dominic C. Canuso purchased 1,800 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price 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 of the company’s stock, valued at $214,340. The trade was a 105.88% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is owned by company insiders.

Bancorp Stock Down 3.4%

Shares of NASDAQ:TBBK opened at $60.63 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The firm has a market cap of $2.66 billion, a P/E ratio of 12.32 and a beta of 1.31. The Bancorp, Inc. has a 12 month low of $40.51 and a 12 month high of $81.65. The company’s 50-day moving average price is $67.83 and its two-hundred day moving average price is $69.72.

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

Bancorp Company Profile

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.