Teacher Retirement System of Texas cut its stake in shares of Bancorp Inc (NASDAQ:TBBK) by 35.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,357 shares of the bank’s stock after selling 6,935 shares during the period. Teacher Retirement System of Texas’ holdings in Bancorp were worth $133,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Frontier Capital Management Co. LLC raised its stake in Bancorp by 28.3% during the 1st quarter. Frontier Capital Management Co. LLC now owns 3,616,814 shares of the bank’s stock valued at $39,062,000 after acquiring an additional 798,717 shares during the last quarter. BlackRock Inc. increased its position in Bancorp by 1.1% during the 4th quarter. BlackRock Inc. now owns 3,249,097 shares of the bank’s stock worth $32,101,000 after purchasing an additional 36,347 shares during the period. Wells Fargo & Company MN increased its position in Bancorp by 6.4% during the 1st quarter. Wells Fargo & Company MN now owns 1,507,709 shares of the bank’s stock worth $16,283,000 after purchasing an additional 90,701 shares during the period. American Century Companies Inc. increased its position in Bancorp by 118.3% during the 1st quarter. American Century Companies Inc. now owns 545,763 shares of the bank’s stock worth $5,894,000 after purchasing an additional 295,786 shares during the period. Finally, Geode Capital Management LLC increased its position in Bancorp by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 467,076 shares of the bank’s stock worth $4,614,000 after purchasing an additional 4,969 shares during the period. 79.64% of the stock is owned by hedge funds and other institutional investors.
In other Bancorp news, Director Daniel G. Cohen sold 150,000 shares of the stock in a transaction on Friday, May 11th. The stock was sold at an average price of $11.09, for a total transaction of $1,663,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 11.10% of the stock is currently owned by corporate insiders.
Several equities analysts have issued reports on the company. Zacks Investment Research cut Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, May 3rd. BidaskClub upgraded Bancorp from a “buy” rating to a “strong-buy” rating in a report on Friday, March 9th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Bancorp presently has an average rating of “Buy” and a consensus price target of $11.25.
TBBK opened at $10.56 on Friday. The company has a market capitalization of $597.42 million, a P/E ratio of 20.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.52 and a current ratio of 0.60. Bancorp Inc has a 1-year low of $7.21 and a 1-year high of $12.00.
Bancorp (NASDAQ:TBBK) last released its quarterly earnings results on Thursday, April 26th. The bank reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $59.17 million for the quarter, compared to analysts’ expectations of $51.52 million. Bancorp had a return on equity of 9.65% and a net margin of 12.36%. equities research analysts forecast that Bancorp Inc will post 0.79 earnings per share for the current fiscal year.
The Bancorp, Inc operates as the financial holding company for The Bancorp Bank that provides banking products and services in the United States. The company offers a range of deposit products and services, including checking accounts, savings accounts, money market accounts, commercial accounts, and prepaid and debit cards.
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