VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.45 Million in The Bancorp, Inc. $TBBK

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in The Bancorp, Inc. (NASDAQ:TBBK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 25,522 shares of the bank’s stock, valued at approximately $1,454,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Bancorp as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TBBK. Quarry LP purchased a new stake in shares of Bancorp in the 1st quarter valued at about $39,000. Brooklyn Investment Group purchased a new stake in shares of Bancorp in the 1st quarter valued at about $58,000. GAMMA Investing LLC lifted its holdings in shares of Bancorp by 45.2% in the 1st quarter. GAMMA Investing LLC now owns 1,465 shares of the bank’s stock valued at $77,000 after purchasing an additional 456 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Bancorp in the 1st quarter valued at about $169,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Bancorp in the 2nd quarter valued at about $170,000. 96.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on TBBK shares. Weiss Ratings downgraded Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Raymond James Financial raised Bancorp from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Bancorp in a research note on Friday, July 18th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $65.00 price objective on shares of Bancorp in a research note on Friday, July 11th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Bancorp in a research note on Friday, July 18th. One 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Bancorp Stock Performance

Shares of TBBK stock opened at $74.74 on Thursday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 16.07 and a beta of 1.31. The stock has a 50 day simple moving average of $74.94 and a 200-day simple moving average of $61.89. The Bancorp, Inc. has a 12-month low of $40.51 and a 12-month high of $81.65. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14.

Bancorp (NASDAQ:TBBK) last issued its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.01. The business had revenue of $138.00 million during the quarter, compared to the consensus estimate of $94.87 million. Bancorp had a return on equity of 27.24% and a net margin of 27.16%. On average, equities analysts forecast that The Bancorp, Inc. will post 5.31 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Ryan Harris sold 9,841 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $76.37, for a total transaction of $751,557.17. Following the completion of the transaction, the executive vice president directly owned 129,598 shares of the company’s stock, valued at approximately $9,897,399.26. This represents a 7.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Cohn purchased 1,350 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was purchased at an average price of $64.80 per share, for a total transaction of $87,480.00. Following the acquisition, the director owned 1,350 shares in the company, valued at approximately $87,480. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,462 shares of company stock valued at $157,786 and sold 322,841 shares valued at $20,990,025. Corporate insiders own 5.60% of the company’s stock.

Bancorp Company Profile

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.