Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 232 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,233 shares of the bank’s stock after selling 232 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Bancorp were worth $539,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Penserra Capital Management LLC bought a new stake in Bancorp during the 3rd quarter valued at approximately $514,000. Lord Abbett & CO. LLC raised its position in shares of Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after buying an additional 56,959 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after buying an additional 219,020 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Bancorp by 3.3% during the fourth 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 during the last quarter. Finally, Pathstone Holdings LLC grew its stake in Bancorp by 53.5% during the third quarter. Pathstone Holdings LLC now owns 32,126 shares of the bank’s stock valued at $1,719,000 after acquiring an additional 11,197 shares in the last quarter. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Stock Performance

Bancorp stock opened at $53.59 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.89. The company has a market capitalization of $2.58 billion, a PE ratio of 12.46 and a beta of 1.59. The company has a 50 day moving average price of $56.27 and a 200-day moving average price of $54.72. The Bancorp, Inc. has a fifty-two week low of $29.92 and a fifty-two week high of $65.84.

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

Analysts Set New Price Targets

TBBK has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price target on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler increased their price target on shares of Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Raymond James reaffirmed an “outperform” rating and issued a $67.00 price objective (up previously from $60.00) on shares of Bancorp in a research report on Monday, February 3rd.

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.