Arizona State Retirement System Decreases Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Arizona State Retirement System reduced its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,175 shares of the bank’s stock after selling 397 shares during the period. Arizona State Retirement System’s holdings in Bancorp were worth $585,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Carmel Capital Partners LLC acquired a new position in shares of Bancorp during the 3rd quarter worth approximately $34,000. Advisor Group Holdings Inc. raised its position in shares of Bancorp by 325.8% during the 1st quarter. Advisor Group Holdings Inc. now owns 1,222 shares of the bank’s stock worth $35,000 after purchasing an additional 935 shares during the last quarter. Coppell Advisory Solutions LLC acquired a new position in shares of Bancorp during the 2nd quarter worth approximately $45,000. Tower Research Capital LLC TRC raised its position in shares of Bancorp by 81.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,839 shares of the bank’s stock worth $63,000 after purchasing an additional 823 shares during the last quarter. Finally, Rockefeller Capital Management L.P. acquired a new position in shares of Bancorp during the 4th quarter worth approximately $56,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Trading Up 2.3 %

Shares of TBBK opened at $33.94 on Friday. The stock has a fifty day moving average of $37.03 and a two-hundred day moving average of $37.98. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 1.01. The company has a market capitalization of $1.77 billion, a PE ratio of 9.70 and a beta of 1.45. The Bancorp, Inc. has a fifty-two week low of $25.97 and a fifty-two week high of $47.11.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Bancorp had a return on equity of 26.16% and a net margin of 30.94%. The company had revenue of $119.15 million during the quarter, compared to the consensus estimate of $118.52 million. As a group, analysts forecast that The Bancorp, Inc. will post 4.42 EPS for the current year.

Insider Activity

In related news, Director Stephanie B. Mudick acquired 2,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was bought at an average cost of $37.11 per share, with a total value of $74,220.00. Following the purchase, the director now directly owns 31,584 shares of the company’s stock, valued at $1,172,082.24. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Bancorp news, Director Daniela Mielke purchased 3,315 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was purchased at an average cost of $45.13 per share, with a total value of $149,605.95. Following the transaction, the director now owns 26,715 shares in the company, valued at $1,205,647.95. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephanie B. Mudick purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were acquired at an average cost of $37.11 per share, with a total value of $74,220.00. Following the completion of the transaction, the director now owns 31,584 shares in the company, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. Insiders purchased 7,800 shares of company stock valued at $308,838 in the last ninety days. Company insiders own 4.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TBBK. StockNews.com downgraded Bancorp from a “hold” rating to a “sell” rating in a research report on Friday. Keefe, Bruyette & Woods cut their price target on Bancorp from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Friday, April 5th. Finally, Raymond James boosted 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.

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.