Public Sector Pension Investment Board Has $13.45 Million Position in The Bancorp, Inc. $TBBK

Public Sector Pension Investment Board lifted its position in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 12.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 179,654 shares of the bank’s stock after acquiring an additional 20,413 shares during the period. Public Sector Pension Investment Board owned approximately 0.39% of Bancorp worth $13,454,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. lifted its stake in Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock worth $30,000 after purchasing an additional 176 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Bancorp during the 2nd quarter worth $53,000. Covestor Ltd lifted its position in shares of Bancorp by 3,525.0% during the 3rd quarter. Covestor Ltd now owns 1,015 shares of the bank’s stock worth $76,000 after buying an additional 987 shares during the last quarter. GAMMA Investing LLC boosted its stake in Bancorp by 19.7% in the third quarter. GAMMA Investing LLC now owns 1,588 shares of the bank’s stock valued at $119,000 after buying an additional 261 shares in the last quarter. Finally, Strs Ohio bought a new position in Bancorp in the third quarter valued at about $127,000. 96.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TBBK shares. Bank of America set a $60.00 price target on shares of Bancorp in a research note on Wednesday, January 21st. Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Bancorp in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Zacks Research cut Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $58.20.

Insider Activity at Bancorp

In other news, Director Matthew Cohn bought 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The shares were acquired at an average price of $62.14 per share, for a total transaction of $42,255.20. Following the completion of the acquisition, the director directly owned 3,655 shares in the company, valued at approximately $227,121.70. This represents a 22.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark E. Tryniski purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were acquired at an average price of $60.23 per share, with a total value of $301,150.00. Following the completion of the acquisition, the director owned 18,966 shares in the company, valued at approximately $1,142,322.18. This trade represents a 35.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 9,080 shares of company stock worth $548,933 over the last ninety days. Insiders own 5.20% of the company’s stock.

Bancorp Stock Performance

Shares of Bancorp stock opened at $58.57 on Monday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.31. The Bancorp, Inc. has a twelve month low of $40.51 and a twelve month high of $81.65. The company’s fifty day moving average is $66.90 and its 200 day moving average is $69.30. The company has a quick ratio of 0.86, a current ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last announced its earnings results on Thursday, January 29th. The bank reported $1.28 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.18). Bancorp had a return on equity of 28.91% and a net margin of 26.15%.The company had revenue of $132.21 million for the quarter, compared to analyst estimates of $101.10 million. Sell-side analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

About Bancorp

The Bancorp, Inc (NASDAQ: TBBK) is a Delaware-chartered bank holding company that provides a range of banking and financial services to individuals, businesses, and financial institutions across the United States. Through its subsidiary, The Bancorp Bank, the company offers FDIC-insured deposit accounts, cash management solutions and specialized lending products. Its business model focuses on partnering with fintech firms, asset managers and payment processors to deliver integrated banking-as-a-service (BaaS) capabilities.

The company’s product suite includes interest-bearing and non-interest-bearing checking accounts, money market accounts, certificates of deposit and debit and credit card services.