State of New Jersey Common Pension Fund D Acquires New Shares in The Bancorp, Inc. (NASDAQ:TBBK)

State of New Jersey Common Pension Fund D bought a new position in shares of The Bancorp, Inc. (NASDAQ:TBBK) during the 3rd quarter, HoldingsChannel reports. The firm bought 38,886 shares of the bank’s stock, valued at approximately $2,080,000.

A number of other institutional investors have also added to or reduced their stakes in TBBK. GAMMA Investing LLC increased its holdings in Bancorp by 60.5% during the second quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock valued at $29,000 after buying an additional 291 shares during the period. Blue Trust Inc. increased its holdings in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after acquiring an additional 263 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Bancorp by 345.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock worth $55,000 after acquiring an additional 1,272 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Bancorp during the 3rd quarter worth $83,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Bancorp during the second quarter valued at about $216,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 1.7 %

NASDAQ:TBBK opened at $55.17 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a twelve month low of $29.92 and a twelve month high of $59.46. The company has a market cap of $2.64 billion, a PE ratio of 13.93 and a beta of 1.46. The company’s 50 day moving average is $52.95 and its two-hundred day moving average is $44.97.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, October 24th. The bank reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.08). The firm had revenue of $125.84 million during the quarter, compared to analysts’ expectations of $131.34 million. Bancorp had a return on equity of 26.63% and a net margin of 30.97%. During the same quarter last year, the business earned $0.92 EPS. Analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current year.

Insider Activity at Bancorp

In other Bancorp news, Director Matthew Cohn bought 545 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the completion of the transaction, the director now directly owns 56,636 shares of the company’s stock, valued at approximately $2,838,029.96. This trade represents a 0.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Maria Wainwright sold 11,357 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total value of $568,758.56. Following the sale, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. This represents a 32.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock worth $1,345,366 over the last quarter. Insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

TBBK has been the subject of several analyst reports. Piper Sandler increased their price target on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $55.00 target price (up previously from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, StockNews.com raised Bancorp from a “sell” rating to a “hold” rating in a research report on Friday.

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.