State of New Jersey Common Pension Fund D Sells 685 Shares of The Bancorp, Inc. (NASDAQ:TBBK)

State of New Jersey Common Pension Fund D cut its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 1.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,201 shares of the bank’s stock after selling 685 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Bancorp were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Bancorp by 72.3% during the third quarter. Blue Trust Inc. now owns 627 shares of the bank’s stock valued at $34,000 after buying an additional 263 shares during the last quarter. R Squared Ltd acquired a new position in Bancorp in the 4th quarter valued at approximately $45,000. Point72 DIFC Ltd bought a new stake in shares of Bancorp in the 3rd quarter worth approximately $54,000. Advisors Asset Management Inc. grew its holdings in shares of Bancorp by 114.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after purchasing an additional 741 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Bancorp during the third quarter valued at approximately $77,000. 96.22% of the stock is currently owned by institutional investors and hedge funds.

Bancorp Price Performance

Shares of Bancorp stock opened at $56.13 on Monday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.05 and a beta of 1.49. The firm’s 50-day moving average price is $56.19 and its two-hundred day moving average price is $54.09. 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 1-year low of $29.92 and a 1-year high of $65.84.

Bancorp (NASDAQ:TBBK) last released its quarterly 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%. On average, equities analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Raymond James reaffirmed an “outperform” rating and issued a $67.00 target price (up from $60.00) on shares of Bancorp in a research report on Monday, February 3rd. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Sunday, January 12th. Piper Sandler lifted their price objective on Bancorp from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a 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.