State of New Jersey Common Pension Fund D Trims Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

State of New Jersey Common Pension Fund D lowered its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 64,648 shares of the bank’s stock after selling 3,502 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Bancorp were worth $2,493,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Epoch Investment Partners Inc. boosted its stake in shares of Bancorp by 80.7% during the third quarter. Epoch Investment Partners Inc. now owns 725,573 shares of the bank’s stock valued at $25,032,000 after purchasing an additional 323,986 shares during the period. Moody Aldrich Partners LLC bought a new stake in Bancorp during the 4th quarter valued at about $7,184,000. American Century Companies Inc. boosted its position in Bancorp by 21.9% in the 3rd quarter. American Century Companies Inc. now owns 980,410 shares of the bank’s stock valued at $33,824,000 after buying an additional 175,854 shares during the period. FMR LLC grew its stake in Bancorp by 3.3% in the 3rd quarter. FMR LLC now owns 4,879,852 shares of the bank’s stock worth $168,355,000 after acquiring an additional 157,987 shares in the last quarter. Finally, Lisanti Capital Growth LLC grew its stake in Bancorp by 178.6% in the 3rd quarter. Lisanti Capital Growth LLC now owns 208,925 shares of the bank’s stock worth $7,208,000 after acquiring an additional 133,935 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Insider Buying and Selling at Bancorp

In other news, Director Stephanie B. Mudick purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Bancorp news, Director Matthew Cohn bought 2,485 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $34.21 per share, for a total transaction of $85,011.85. Following the purchase, the director now directly owns 157,627 shares in the company, valued at $5,392,419.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephanie B. Mudick purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was acquired at an average price of $37.11 per share, with a total value of $74,220.00. Following the completion of the purchase, the director now owns 31,584 shares of the company’s stock, valued at approximately $1,172,082.24. The disclosure for this purchase can be found here. 5.20% of the stock is owned by insiders.

Bancorp Price Performance

NASDAQ TBBK opened at $31.27 on Thursday. The company has a market cap of $1.63 billion, a PE ratio of 8.50 and a beta of 1.43. The Bancorp, Inc. has a 52-week low of $28.04 and a 52-week high of $47.11. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.98 and a current ratio of 1.02. The firm’s 50 day moving average price is $35.24 and its 200-day moving average price is $37.90.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Friday, April 26th. The bank reported $1.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.06. Bancorp had a return on equity of 26.32% and a net margin of 39.94%. During the same quarter in the previous year, the firm posted $0.88 EPS. Sell-side analysts forecast that The Bancorp, Inc. will post 4.51 EPS for the current fiscal year.

Analyst Ratings Changes

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

Bancorp Company Profile

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.