Phocas Financial Corp. decreased its stake in shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 25.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 376,676 shares of the bank's stock after selling 131,227 shares during the quarter. Bancorp comprises about 1.3% of Phocas Financial Corp.'s investment portfolio, making the stock its 11th biggest holding. Phocas Financial Corp. owned about 0.67% of Bancorp worth $10,671,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its holdings in shares of Bancorp by 1.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 23,048 shares of the bank's stock worth $653,000 after purchasing an additional 436 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Bancorp by 6.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 8,267 shares of the bank's stock worth $234,000 after purchasing an additional 482 shares in the last quarter. Comerica Bank increased its holdings in shares of Bancorp by 0.8% in the 1st quarter. Comerica Bank now owns 62,739 shares of the bank's stock worth $1,648,000 after purchasing an additional 520 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of Bancorp by 1.0% in the 1st quarter. Engineers Gate Manager LP now owns 57,126 shares of the bank's stock worth $1,618,000 after purchasing an additional 543 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Bancorp by 6.0% in the 1st quarter. Teacher Retirement System of Texas now owns 10,447 shares of the bank's stock worth $296,000 after purchasing an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 90.95% of the company's stock.
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Separately, Piper Sandler reduced their target price on Bancorp from $36.00 to $31.00 and set an "overweight" rating for the company in a report on Monday, July 11th.
Bancorp Stock Performance
Shares of TBBK traded up $0.38 during trading hours on Thursday, hitting $23.66. The stock had a trading volume of 2,147 shares, compared to its average volume of 257,527. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.97 and a quick ratio of 0.81. The Bancorp, Inc. has a 12 month low of $16.59 and a 12 month high of $33.36. The firm has a market capitalization of $1.34 billion, a PE ratio of 11.82 and a beta of 1.45. The stock has a fifty day moving average price of $23.08 and a 200 day moving average price of $23.51.Bancorp (NASDAQ:TBBK – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The bank reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. Bancorp had a return on equity of 17.63% and a net margin of 34.36%. During the same period last year, the company earned $0.49 earnings per share. Analysts anticipate that The Bancorp, Inc. will post 2.28 EPS for the current year.
About Bancorp
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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, savings, money market, and commercial accounts; and prepaid and debit cards.
Further Reading
- Get a free copy of the StockNews.com research report on Bancorp (TBBK)
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