Arizona State Retirement System Reduces Stake in The Bancorp, Inc. (NASDAQ:TBBK)

Arizona State Retirement System reduced its position in The Bancorp, Inc. (NASDAQ:TBBK) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TBBK. Smartleaf Asset Management LLC boosted its stake in shares of Bancorp by 191.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 744 shares of the bank’s stock worth $40,000 after buying an additional 489 shares during the last quarter. R Squared Ltd purchased a new position in shares of Bancorp in the 4th quarter worth $45,000. Point72 DIFC Ltd purchased a new position in shares of Bancorp in the 3rd quarter worth $54,000. Advisors Asset Management Inc. boosted its stake in shares of Bancorp by 114.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,389 shares of the bank’s stock worth $74,000 after buying an additional 741 shares during the last quarter. Finally, National Bank of Canada FI purchased a new position in shares of Bancorp in the 3rd quarter worth $77,000. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Price Performance

NASDAQ TBBK opened at $51.84 on Friday. The company has a market capitalization of $2.49 billion, a PE ratio of 12.06 and a beta of 1.59. 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 business’s fifty day moving average is $56.01 and its 200 day moving average is $54.48. 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 posted its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 EPS 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%. Sell-side analysts predict that The Bancorp, Inc. will post 5.31 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.