Maryland State Retirement & Pension System Sells 7,105 Shares of The Bancorp, Inc. $TBBK

Maryland State Retirement & Pension System lessened its holdings in shares of The Bancorp, Inc. (NASDAQ:TBBK) by 51.8% during the third quarter, Holdings Channel reports. The firm owned 6,622 shares of the bank’s stock after selling 7,105 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Bancorp were worth $496,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TBBK. Lazard Asset Management LLC bought a new stake in shares of Bancorp in the 2nd quarter worth approximately $53,000. GAMMA Investing LLC boosted its holdings 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 acquiring an additional 261 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Bancorp by 8.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,100 shares of the bank’s stock valued at $157,000 after acquiring an additional 169 shares in the last quarter. Captrust Financial Advisors purchased a new position in Bancorp during the 2nd quarter valued at $202,000. Finally, Guyasuta Investment Advisors Inc. bought a new position in Bancorp in the 3rd quarter worth $210,000. Hedge funds and other institutional investors own 96.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Bancorp in a research note on Monday, December 29th. Raymond James Financial restated a “strong-buy” rating on shares of Bancorp in a report on Tuesday, January 13th. Royal Bank Of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Bancorp in a report on Wednesday. Finally, William Blair set a $60.00 target price on Bancorp in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $60.20.

Insider Buying and Selling

In related news, CFO Dominic C. Canuso bought 1,800 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $61.24 per share, with a total value of $110,232.00. Following the completion of the purchase, the chief financial officer owned 3,500 shares in the company, valued at approximately $214,340. The trade was a 105.88% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.60% of the company’s stock.

Bancorp Price Performance

Shares of TBBK opened at $71.29 on Friday. The Bancorp, Inc. has a fifty-two week low of $40.51 and a fifty-two week high of $81.65. The firm’s 50-day simple moving average is $67.14 and its two-hundred day simple moving average is $69.60. The stock has a market cap of $3.13 billion, a PE ratio of 14.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.89 and a current ratio of 0.91.

Bancorp (NASDAQ:TBBK) last issued its quarterly earnings results on Thursday, October 30th. The bank reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.16). The company had revenue of $134.82 million during the quarter, compared to the consensus estimate of $99.60 million. Bancorp had a return on equity of 27.97% and a net margin of 26.15%.Bancorp has set its FY 2025 guidance at 5.100-5.100 EPS. Analysts anticipate that The Bancorp, Inc. will post 5.31 earnings per share for the current fiscal year.

Bancorp 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.