State of New Jersey Common Pension Fund D Takes Position in The Bancorp, Inc. (NASDAQ:TBBK)

State of New Jersey Common Pension Fund D acquired a new stake in shares of The Bancorp, Inc. (NASDAQ:TBBK - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,886 shares of the bank's stock, valued at approximately $2,080,000. State of New Jersey Common Pension Fund D owned approximately 0.08% of Bancorp at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Bancorp by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,959 shares of the bank's stock worth $1,056,000 after buying an additional 234 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Bancorp by 72.3% in the 3rd quarter. Blue Trust Inc. now owns 627 shares of the bank's stock worth $34,000 after purchasing an additional 263 shares during the period. GAMMA Investing LLC boosted its stake in shares of Bancorp by 60.5% during the 2nd quarter. GAMMA Investing LLC now owns 772 shares of the bank's stock valued at $29,000 after purchasing an additional 291 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Bancorp by 0.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 67,251 shares of the bank's stock valued at $2,251,000 after purchasing an additional 302 shares in the last quarter. Finally, Legend Financial Advisors Inc. raised its stake in Bancorp by 2.1% in the second quarter. Legend Financial Advisors Inc. now owns 18,200 shares of the bank's stock worth $687,000 after buying an additional 380 shares in the last quarter. Institutional investors own 96.22% of the company's stock.

Insider Buying and Selling

In related news, Director Matthew Cohn acquired 545 shares of the business's stock in a transaction that occurred on Tuesday, October 29th. The stock was bought at an average cost of $50.11 per share, for a total transaction of $27,309.95. Following the purchase, the director now owns 56,636 shares in the company, valued at $2,838,029.96. The trade was a 0.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Maria Wainwright sold 11,357 shares of the business's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $50.08, for a total transaction of $568,758.56. Following the completion of the transaction, the chief marketing officer now directly owns 23,291 shares in the company, valued at $1,166,413.28. This trade represents a 32.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,983 shares of company stock valued at $1,345,366 over the last 90 days. Company insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TBBK shares. StockNews.com upgraded Bancorp from a "sell" rating to a "hold" rating in a report on Friday. Piper Sandler boosted their target price on shares of Bancorp from $55.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $55.00 price target (up from $46.00) on shares of Bancorp in a research note on Monday, July 29th.

Bancorp Stock Up 1.7 %

TBBK stock traded up $0.93 during trading on Friday, hitting $55.17. 413,454 shares of the stock traded hands, compared to its average volume of 629,759. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 13.93 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.88 and a quick ratio of 0.85. The Bancorp, Inc. has a 1 year low of $29.92 and a 1 year high of $59.46. The firm's 50 day moving average is $52.95 and its two-hundred day moving average is $44.97.

Bancorp (NASDAQ:TBBK - Get Free Report) last posted its earnings results on Thursday, October 24th. The bank reported $1.04 EPS for the quarter, missing analysts' consensus estimates of $1.12 by ($0.08). Bancorp had a return on equity of 26.63% and a net margin of 30.97%. The business had revenue of $125.84 million during the quarter, compared to the consensus estimate of $131.34 million. During the same period in the previous year, the business posted $0.92 EPS. On average, sell-side analysts anticipate that The Bancorp, Inc. will post 4.3 EPS for the current 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.