California State Teachers Retirement System grew its position in shares of Bancorp Inc (NASDAQ:TBBK) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,256 shares of the bank’s stock after purchasing an additional 1,068 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of Bancorp worth $775,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Panagora Asset Management Inc. boosted its stake in Bancorp by 3,288.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 10,945 shares of the bank’s stock worth $98,000 after purchasing an additional 10,622 shares during the last quarter. BerganKDV Wealth Management LLC boosted its position in shares of Bancorp by 21.8% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 11,697 shares of the bank’s stock valued at $104,000 after acquiring an additional 2,090 shares during the last quarter. Patriot Financial Partners GP LP acquired a new position in shares of Bancorp during the 3rd quarter valued at about $109,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of Bancorp by 24.7% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 15,550 shares of the bank’s stock valued at $139,000 after acquiring an additional 3,080 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Bancorp by 24.2% during the 2nd quarter. Bank of Montreal Can now owns 15,758 shares of the bank’s stock valued at $141,000 after acquiring an additional 3,071 shares during the last quarter. 78.86% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on TBBK shares. Sandler O’Neill upgraded shares of Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. BidaskClub lowered shares of Bancorp from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine lowered shares of Bancorp from a “sell” rating to a “strong sell” rating in a research note on Friday. Finally, Zacks Investment Research lowered shares of Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 26th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $12.00.
Shares of TBBK stock traded up $0.13 during trading hours on Monday, reaching $12.16. 128,058 shares of the stock were exchanged, compared to its average volume of 198,183. The business’s fifty day moving average is $12.18 and its two-hundred day moving average is $10.41. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.72 and a quick ratio of 0.61. Bancorp Inc has a 12-month low of $7.66 and a 12-month high of $13.73. The firm has a market capitalization of $684.63 million, a P/E ratio of 17.62 and a beta of 1.35.
Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $0.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.11. The firm had revenue of $71.08 million during the quarter, compared to the consensus estimate of $63.76 million. Bancorp had a return on equity of 12.67% and a net margin of 20.66%. As a group, equities research analysts predict that Bancorp Inc will post 1.09 earnings per share for the current fiscal year.
In other news, EVP Ron J. Wechsler sold 22,461 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $11.25, for a total value of $252,686.25. Also, CEO Damian Kozlowski purchased 4,460 shares of the business’s stock in a transaction dated Friday, December 6th. The shares were bought at an average price of $11.63 per share, with a total value of $51,869.80. Over the last ninety days, insiders purchased 17,460 shares of company stock valued at $195,280 and sold 104,340 shares valued at $1,858,113. Corporate insiders own 11.80% of the company’s stock.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking, savings, money market, commercial, and retirement accounts. It also provides securities-backed lines of credit, vehicle fleet and other equipment leasing, small business administration loans, and commercial mortgage-backed loans, as well as prepaid and debit cards.
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