New York State Common Retirement Fund Reduces Position in The Bancorp, Inc. (NASDAQ:TBBK)

New York State Common Retirement Fund trimmed its position in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) by 66.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,298 shares of the bank's stock after selling 75,239 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Bancorp worth $1,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in shares of Bancorp by 0.9% during the third quarter. Teacher Retirement System of Texas now owns 46,980 shares of the bank's stock valued at $1,621,000 after buying an additional 419 shares during the last quarter. Federated Hermes Inc. boosted its stake in Bancorp by 1.3% during the fourth quarter. Federated Hermes Inc. now owns 48,260 shares of the bank's stock valued at $1,861,000 after buying an additional 611 shares during the period. Meritage Portfolio Management grew its position in Bancorp by 5.4% during the third quarter. Meritage Portfolio Management now owns 12,030 shares of the bank's stock worth $415,000 after buying an additional 612 shares in the last quarter. Carmel Capital Partners LLC bought a new position in Bancorp in the 3rd quarter worth about $34,000. Finally, Barclays PLC raised its holdings in shares of Bancorp by 1.4% in the 3rd quarter. Barclays PLC now owns 86,709 shares of the bank's stock valued at $2,991,000 after acquiring an additional 1,172 shares in the last quarter. Institutional investors own 96.22% of the company's stock.

Analyst Ratings Changes

TBBK has been the topic of a number of research analyst reports. Raymond James increased their price target on shares of Bancorp from $42.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, January 29th. StockNews.com raised Bancorp from a "sell" rating to a "hold" rating in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods lowered their target price on Bancorp from $52.00 to $46.00 and set an "outperform" rating for the company in a research note on Friday, April 5th.

Bancorp Price Performance

Shares of NASDAQ:TBBK traded up $0.06 during midday trading on Friday, reaching $33.11. 323,689 shares of the company were exchanged, compared to its average volume of 649,058. The business's fifty day moving average is $33.81 and its two-hundred day moving average is $37.80. The Bancorp, Inc. has a one year low of $28.41 and a one year high of $47.11. The stock has a market cap of $1.73 billion, a PE ratio of 8.98 and a beta of 1.43. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.18.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share for the quarter, hitting analysts' consensus estimates of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter last year, the company earned $0.88 earnings per share. As a group, analysts predict that The Bancorp, Inc. will post 4.51 earnings per share for the current year.

Insider Activity at Bancorp

In other news, Director Stephanie B. Mudick purchased 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were purchased at an average cost of $37.11 per share, with a total value of $74,220.00. Following the completion of the purchase, the director now directly owns 31,584 shares of the company's stock, valued at approximately $1,172,082.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Hersh Kozlov acquired 1,000 shares of Bancorp stock in a transaction dated Tuesday, May 7th. The stock was acquired at an average price of $32.53 per share, for a total transaction of $32,530.00. Following the transaction, the director now owns 111,264 shares of the company's stock, valued at $3,619,417.92. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephanie B. Mudick acquired 2,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, for a total transaction of $74,220.00. Following the completion of the transaction, the director now directly owns 31,584 shares in the company, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 6,191 shares of company stock valued at $214,194. 5.20% of the stock is owned by company insiders.

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.