Maryland State Retirement & Pension System Has $850,000 Position in The Bancorp, Inc. (NASDAQ:TBBK)

Maryland State Retirement & Pension System lessened its holdings in The Bancorp, Inc. (NASDAQ:TBBK) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,142 shares of the bank’s stock after selling 391 shares during the period. Maryland State Retirement & Pension System’s holdings in Bancorp were worth $850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TBBK. Geode Capital Management LLC lifted its stake in Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,362,668 shares of the bank’s stock worth $72,914,000 after acquiring an additional 6,459 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Bancorp by 18.6% in the 3rd quarter. Franklin Resources Inc. now owns 925,370 shares of the bank’s stock valued at $52,061,000 after purchasing an additional 144,867 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Bancorp by 132.9% in the third quarter. JPMorgan Chase & Co. now owns 383,784 shares of the bank’s stock worth $20,532,000 after purchasing an additional 219,020 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Bancorp by 3.3% during the fourth quarter. Principal Financial Group Inc. now owns 304,609 shares of the bank’s stock worth $16,032,000 after purchasing an additional 9,748 shares during the period. Finally, Lord Abbett & CO. LLC grew its position in Bancorp by 23.1% during the third quarter. Lord Abbett & CO. LLC now owns 303,239 shares of the bank’s stock valued at $16,223,000 after purchasing an additional 56,959 shares in the last quarter. Institutional investors and hedge funds own 96.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TBBK shares. Keefe, Bruyette & Woods increased their target price on shares of Bancorp from $66.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective 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 reaffirmed an “outperform” rating and issued 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 report on Thursday, March 6th.

Bancorp Stock Up 0.9 %

TBBK stock opened at $54.93 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.64 billion, a PE ratio of 12.77 and a beta of 1.59. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $65.84. The company has a fifty day simple moving average of $56.16 and a 200 day simple moving average of $54.63.

Bancorp (NASDAQ:TBBK) last announced its quarterly earnings results on Thursday, January 30th. The bank reported $1.15 earnings per share for the quarter, topping 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 anticipate that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

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.