18,800 Shares in The Bancorp, Inc. $TBBK Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,800 shares of the bank’s stock, valued at approximately $1,010,000.

Several other large investors have also recently bought and sold shares of the business. Penn Capital Management Company LLC acquired a new position in shares of Bancorp during the 3rd quarter worth about $13,422,000. Kennedy Capital Management LLC raised its position in shares of Bancorp by 57.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 281,256 shares of the bank’s stock worth $21,063,000 after acquiring an additional 102,534 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Bancorp during the 3rd quarter worth about $3,529,000. Hennessy Advisors Inc. lifted its stake in Bancorp by 33.3% during the fourth quarter. Hennessy Advisors Inc. now owns 40,000 shares of the bank’s stock worth $2,701,000 after purchasing an additional 10,000 shares during the last quarter. Finally, BW Gestao de Investimentos Ltda. purchased a new stake in Bancorp during the fourth quarter worth approximately $7,427,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Insider Activity at Bancorp

In other news, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the transaction, the executive vice president directly owned 32,880 shares in the company, valued at approximately $1,982,006.40. This trade represents a 11.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Maria Wainwright sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $60.24, for a total transaction of $506,016.00. Following the transaction, the chief marketing officer owned 24,942 shares in the company, valued at approximately $1,502,506.08. This trade represents a 25.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is currently owned by corporate insiders.

Bancorp Price Performance

Shares of NASDAQ TBBK opened at $63.89 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 12.43 and a beta of 1.19. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.32. The Bancorp, Inc. has a 52-week low of $50.20 and a 52-week high of $81.65. The business has a 50-day moving average price of $57.17 and a 200 day moving average price of $59.72.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $132.50 million for the quarter, compared to the consensus estimate of $189.17 million. Bancorp had a return on equity of 30.56% and a net margin of 26.92%. Equities research analysts forecast that The Bancorp, Inc. will post 5.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TBBK has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Zacks Research upgraded shares of Bancorp from a “strong sell” rating to a “hold” rating in a research report on Friday, April 3rd. Wall Street Zen upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Piper Sandler began coverage on shares of Bancorp in a research report on Thursday, March 12th. They issued an “overweight” rating and a $66.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.50.

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.