The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 64.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,920 shares of the bank’s stock after purchasing an additional 3,108 shares during the period. Teacher Retirement System of Texas’ holdings in Bancorp were worth $417,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its stake in 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 acquiring an additional 489 shares during the period. R Squared Ltd purchased a new stake in shares of Bancorp in the fourth quarter valued at $45,000. Point72 DIFC Ltd acquired a new position in Bancorp in the third quarter valued at $54,000. National Bank of Canada FI purchased a new position in Bancorp during the third quarter worth about $77,000. Finally, Parkside Financial Bank & Trust lifted its position in Bancorp by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,502 shares of the bank’s stock worth $79,000 after buying an additional 424 shares during the period. 96.22% of the stock is currently owned by hedge funds and other institutional investors.

Bancorp Trading Up 0.5 %

TBBK opened at $52.84 on Tuesday. The Bancorp, Inc. has a 12-month low of $29.92 and a 12-month high of $65.84. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.89 and a quick ratio of 0.86. The stock has a market capitalization of $2.54 billion, a PE ratio of 12.29 and a beta of 1.59. The firm’s fifty day moving average price is $56.14 and its 200 day moving average price is $54.88.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, January 30th. The bank reported $1.15 EPS for the quarter, topping the consensus estimate of $1.13 by $0.02. Bancorp had a return on equity of 27.33% and a net margin of 30.97%. As a group, research analysts expect that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.