State of New Jersey Common Pension Fund D Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

State of New Jersey Common Pension Fund D acquired a new position in The Bancorp, Inc. (NASDAQ:TBBK) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 38,886 shares of the bank’s stock, valued at approximately $2,080,000. State of New Jersey Common Pension Fund D owned about 0.08% of Bancorp at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank’s stock worth $29,000 after acquiring an additional 291 shares during the last quarter. Blue Trust Inc. lifted its position in 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 purchasing an additional 263 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Bancorp by 345.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,640 shares of the bank’s stock valued at $55,000 after purchasing an additional 1,272 shares during the period. US Bancorp DE purchased a new stake in Bancorp in the third quarter worth about $83,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of Bancorp in the second quarter worth about $216,000. 96.22% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TBBK has been the subject of several analyst reports. Piper Sandler increased their target price on shares of Bancorp from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a research report on Monday, July 29th. Finally, StockNews.com raised shares of Bancorp from a “sell” rating to a “hold” rating in a report on Friday.

Bancorp Stock Up 1.7 %

Shares of TBBK stock opened at $55.17 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.88 and a debt-to-equity ratio of 0.18. The Bancorp, Inc. has a 52 week low of $29.92 and a 52 week high of $59.46. The company’s fifty day simple moving average is $52.95 and its two-hundred day simple moving average is $44.97. The stock has a market cap of $2.64 billion, a P/E ratio of 13.93 and a beta of 1.46.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.08). Bancorp had a net margin of 30.97% and a return on equity of 26.63%. The business had revenue of $125.84 million for the quarter, compared to the consensus estimate of $131.34 million. During the same quarter last year, the business earned $0.92 EPS. Analysts predict that The Bancorp, Inc. will post 4.3 EPS for the current fiscal year.

Insider Buying and Selling at Bancorp

In other news, Director Matthew Cohn bought 545 shares of Bancorp stock in a transaction dated Tuesday, October 29th. The shares were acquired at an average price of $50.11 per share, with a total value of $27,309.95. Following the completion of the purchase, the director now owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas G. Pareigat sold 5,466 shares of Bancorp stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $49.03, for a total transaction of $267,997.98. Following the transaction, the executive vice president now directly owns 73,114 shares of the company’s stock, valued at approximately $3,584,779.42. This represents a 6.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,983 shares of company stock worth $1,345,366 over the last ninety days. Company insiders own 5.20% of the company’s stock.

Bancorp 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.