Texas Permanent School Fund Cuts Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Texas Permanent School Fund trimmed its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 35,845 shares of the bank’s stock after selling 4,832 shares during the quarter. Texas Permanent School Fund’s holdings in Bancorp were worth $1,017,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legato Capital Management LLC purchased a new stake in Bancorp during the 4th quarter valued at $843,000. Great West Life Assurance Co. Can purchased a new position in shares of Bancorp in the 3rd quarter worth $1,584,000. SummerHaven Investment Management LLC boosted its stake in shares of Bancorp by 1.0% in the 4th quarter. SummerHaven Investment Management LLC now owns 38,084 shares of the bank’s stock worth $1,081,000 after buying an additional 380 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Bancorp in the 4th quarter worth $57,000. Finally, ProShare Advisors LLC purchased a new position in shares of Bancorp in the 4th quarter worth $246,000. 90.02% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Price Performance

Shares of Bancorp stock opened at $29.75 on Tuesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.92 and a current ratio of 0.99. The stock’s fifty day moving average is $28.79 and its 200 day moving average is $30.18. The stock has a market cap of $1.65 billion, a P/E ratio of 11.18 and a beta of 1.46. The Bancorp, Inc. has a one year low of $16.59 and a one year high of $37.58.

Analyst Ratings Changes

A number of research firms have recently issued reports on TBBK. Keefe, Bruyette & Woods dropped their price target on Bancorp from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Piper Sandler dropped their price target on Bancorp from $43.00 to $39.00 in a research note on Thursday, April 6th. Raymond James began coverage on Bancorp in a report on Monday, January 30th. They issued an “outperform” rating and a $38.00 target price on the stock. Finally, StockNews.com cut Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, May 9th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company. According to data from MarketBeat, Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Buying and Selling at Bancorp

In other Bancorp news, Director Daniela Mielke purchased 2,300 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of $27.14 per share, with a total value of $62,422.00. Following the completion of the acquisition, the director now directly owns 20,830 shares in the company, valued at $565,326.20. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 4,050 shares of company stock valued at $121,530 over the last ninety days. 4.30% of the stock is currently owned by company insiders.

Bancorp Company Profile

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The Bancorp, Inc operates as a financial holding company. The firm engages in the provision of private label banking and financial services through the Bank. It operates through the following segments: Specialty Finance, Payments and Corporate. The Specialty Finance segment consists of commercial mortgage loan sales and securitizations, small business administration loans, direct lease financing, and security and insurance backed lines of credit and deposits generated by business lines.