18,800 Shares in The Bancorp, Inc. $TBBK Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System purchased a new stake in The Bancorp, Inc. (NASDAQ:TBBK) during the 1st quarter, Holdings Channel.com reports. The fund purchased 18,800 shares of the bank’s stock, valued at approximately $1,010,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. lifted its position in Bancorp by 273.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 621,903 shares of the bank’s stock worth $46,574,000 after acquiring an additional 455,265 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of Bancorp by 148.6% in the fourth quarter. Jupiter Asset Management Ltd. now owns 403,248 shares of the bank’s stock valued at $27,227,000 after purchasing an additional 241,058 shares during the period. Nantahala Capital Management LLC increased its holdings in shares of Bancorp by 25.7% in the fourth quarter. Nantahala Capital Management LLC now owns 1,071,685 shares of the bank’s stock valued at $72,360,000 after purchasing an additional 219,351 shares during the period. Penn Capital Management Company LLC acquired a new position in shares of Bancorp in the third quarter valued at approximately $13,422,000. Finally, Epoch Investment Partners Inc. raised its stake in shares of Bancorp by 306.6% during the third quarter. Epoch Investment Partners Inc. now owns 209,268 shares of the bank’s stock worth $15,672,000 after purchasing an additional 157,796 shares during the last quarter. 96.22% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Maria Wainwright sold 8,400 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $60.24, for a total value of $506,016.00. Following the completion of the transaction, the chief marketing officer owned 24,942 shares in the company, valued at $1,502,506.08. This trade represents a 25.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Erika R. Caesar sold 4,470 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $60.28, for a total transaction of $269,451.60. Following the completion of the sale, the executive vice president owned 32,880 shares of the company’s stock, valued at $1,982,006.40. This trade represents a 11.97% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.00% of the stock is currently owned by company insiders.

Bancorp Stock Performance

NASDAQ TBBK opened at $63.89 on Friday. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 12.43 and a beta of 1.19. The business’s 50 day moving average is $57.17 and its two-hundred day moving average is $59.72. The Bancorp, Inc. has a 12-month low of $50.20 and a 12-month high of $81.65. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.32.

Bancorp (NASDAQ:TBBK) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Bancorp had a return on equity of 30.56% and a net margin of 26.92%.The business had revenue of $132.50 million during the quarter, compared to analysts’ expectations of $189.17 million. Research analysts expect that The Bancorp, Inc. will post 5.95 EPS for the current year.

Analyst Ratings Changes

TBBK has been the subject of several recent research reports. Piper Sandler assumed coverage on Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $66.00 price target for the company. Weiss Ratings raised shares of Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Wall Street Zen upgraded shares of Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Finally, Zacks Research upgraded shares of Bancorp from a “strong sell” rating to a “hold” rating in a research note on Friday, April 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

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.