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

Public Sector Pension Investment Board boosted its stake in The Bancorp, Inc. (NASDAQ:TBBK) by 12.8% in the third quarter, HoldingsChannel reports. The firm owned 179,654 shares of the bank’s stock after buying an additional 20,413 shares during the period. Public Sector Pension Investment Board’s holdings in Bancorp were worth $13,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TBBK. Rhumbline Advisers boosted its position in shares of Bancorp by 0.3% during the 3rd quarter. Rhumbline Advisers now owns 133,544 shares of the bank’s stock worth $10,001,000 after purchasing an additional 450 shares in the last quarter. Versor Investments LP bought a new position in Bancorp in the third quarter worth approximately $614,000. Bryce Point Capital LLC acquired a new stake in Bancorp in the third quarter valued at approximately $358,000. MMA Asset Management LLC bought a new stake in shares of Bancorp during the third quarter valued at approximately $218,000. Finally, Bessemer Group Inc. increased its holdings in shares of Bancorp by 78.6% during the third quarter. Bessemer Group Inc. now owns 400 shares of the bank’s stock valued at $30,000 after acquiring an additional 176 shares in the last quarter. 96.22% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TBBK shares. Bank of America set a $60.00 target price on Bancorp in a report on Wednesday, January 21st. Piper Sandler reaffirmed an “overweight” rating on shares of Bancorp in a research note on Monday, February 9th. Raymond James Financial reissued a “strong-buy” rating on shares of Bancorp in a research report on Tuesday, January 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Bancorp in a report on Monday, December 29th. Finally, Zacks Research downgraded Bancorp from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $58.20.

Bancorp Stock Performance

NASDAQ TBBK opened at $58.57 on Monday. The company has a fifty day moving average price of $66.90 and a 200-day moving average price of $69.30. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 11.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.88 and a quick ratio of 0.86. The Bancorp, Inc. has a 1 year low of $40.51 and a 1 year high of $81.65.

Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, January 29th. The bank reported $1.28 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($0.18). The firm had revenue of $132.21 million for the quarter, compared to analysts’ expectations of $101.10 million. Bancorp had a return on equity of 28.91% and a net margin of 26.15%. As a group, equities research analysts predict that The Bancorp, Inc. will post 5.31 EPS for the current fiscal year.

Insider Transactions at Bancorp

In other Bancorp news, Director Matthew Cohn bought 680 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was purchased at an average cost of $62.14 per share, with a total value of $42,255.20. Following the transaction, the director directly owned 3,655 shares in the company, valued at $227,121.70. This trade represents a 22.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark E. Tryniski bought 5,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $60.23 per share, for a total transaction of $301,150.00. Following the completion of the purchase, the director directly owned 18,966 shares in the company, valued at approximately $1,142,322.18. This trade represents a 35.80% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 9,080 shares of company stock worth $548,933 in the last 90 days. Insiders own 5.20% of the company’s stock.

Bancorp Company Profile

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.