Arizona State Retirement System Sells 674 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Arizona State Retirement System lowered its position in The Bancorp, Inc. (NASDAQ:TBBK) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,487 shares of the bank’s stock after selling 674 shares during the period. Arizona State Retirement System’s holdings in Bancorp were worth $710,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after acquiring an additional 6,459 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock worth $52,061,000 after acquiring an additional 144,867 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bancorp by 132.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after acquiring an additional 219,020 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Bancorp by 3.3% in the 4th quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after acquiring an additional 9,748 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its position in shares of Bancorp by 23.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock worth $16,223,000 after acquiring an additional 56,959 shares in the last quarter. Institutional investors own 96.22% of the company’s stock.

Bancorp Stock Performance

Shares of TBBK opened at $51.84 on Friday. The business’s fifty day simple moving average is $56.01 and its two-hundred day simple moving average is $54.48. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The Bancorp, Inc. has a 12 month low of $29.92 and a 12 month high of $65.84. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 12.06 and a beta of 1.59.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. Research analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TBBK shares. StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Raymond James reaffirmed an “outperform” rating and set a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. Piper Sandler raised their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on Bancorp from $66.00 to $72.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd.

Bancorp 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.