Arizona State Retirement System Lowers Stock Holdings in The Bancorp, Inc. (NASDAQ:TBBK)

Arizona State Retirement System decreased its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 13,897 shares of the bank’s stock after selling 849 shares during the period. Arizona State Retirement System’s holdings in Bancorp were worth $525,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TBBK. Charles Schwab Investment Management Inc. lifted its stake in shares of Bancorp by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 438,171 shares of the bank’s stock valued at $16,896,000 after buying an additional 5,145 shares in the last quarter. Level Four Advisory Services LLC purchased a new position in shares of Bancorp during the 4th quarter valued at $471,000. Trexquant Investment LP lifted its stake in shares of Bancorp by 26.4% during the 4th quarter. Trexquant Investment LP now owns 32,004 shares of the bank’s stock valued at $1,234,000 after buying an additional 6,681 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Bancorp during the 4th quarter valued at $115,000. Finally, Franklin Resources Inc. lifted its stake in shares of Bancorp by 28.2% during the 4th quarter. Franklin Resources Inc. now owns 33,608 shares of the bank’s stock valued at $1,296,000 after buying an additional 7,389 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Bancorp Stock Up 4.5 %

Shares of TBBK stock opened at $51.71 on Tuesday. The stock has a market cap of $2.70 billion, a P/E ratio of 13.45 and a beta of 1.45. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $53.48. The company has a quick ratio of 0.84, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $48.29 and its two-hundred day simple moving average is $39.07.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.03). Bancorp had a net margin of 31.52% and a return on equity of 26.81%. The business had revenue of $124.52 million during the quarter, compared to the consensus estimate of $127.45 million. Analysts predict that The Bancorp, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Piper Sandler boosted their price target on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $55.00 price target (up previously from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

About Bancorp

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.