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The Bancorp, Inc. (NASDAQ:TBBK) Shares Purchased by Parkside Financial Bank & Trust

Defense World ·  Sep 24, 2022 06:11

Parkside Financial Bank & Trust raised its position in shares of The Bancorp, Inc. (NASDAQ:TBBK – Get Rating) by 141.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,740 shares of the bank's stock after acquiring an additional 1,605 shares during the period. Parkside Financial Bank & Trust's holdings in Bancorp were worth $53,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Maryland State Retirement & Pension System grew its holdings in shares of Bancorp by 1.9% during 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 during the period. Mutual of America Capital Management LLC raised its stake 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 valued at $234,000 after acquiring an additional 482 shares during the period. Comerica Bank lifted its holdings in shares of Bancorp by 0.8% during the 1st quarter. Comerica Bank now owns 62,739 shares of the bank's stock valued at $1,648,000 after acquiring an additional 520 shares in the last quarter. Engineers Gate Manager LP boosted its position in Bancorp by 1.0% during 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 during the period. Finally, Teacher Retirement System of Texas raised its position in Bancorp by 6.0% in the first quarter. Teacher Retirement System of Texas now owns 10,447 shares of the bank's stock valued at $296,000 after purchasing an additional 594 shares during the period. 90.95% of the stock is currently owned by hedge funds and other institutional investors.

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Bancorp Price Performance

Shares of TBBK stock opened at $22.49 on Friday. The company has a market capitalization of $1.27 billion, a PE ratio of 11.42 and a beta of 1.45. The firm has a fifty day simple moving average of $23.85 and a 200-day simple moving average of $23.13. The company has a current ratio of 0.97, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23. The Bancorp, Inc. has a twelve month low of $16.59 and a twelve month high of $33.36.

Bancorp (NASDAQ:TBBK – Get Rating) last announced its earnings results on Thursday, July 28th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. Bancorp had a net margin of 34.36% and a return on equity of 17.63%. During the same period in the prior year, the firm earned $0.49 earnings per share. Equities research analysts anticipate that The Bancorp, Inc. will post 2.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TBBK has been the subject of a number of recent research reports. Piper Sandler lowered their target price on Bancorp from $36.00 to $31.00 and set an "overweight" rating for the company in a research note on Monday, July 11th. TheStreet downgraded shares of Bancorp from a "b" rating to a "c+" rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Bancorp currently has an average rating of "Buy" and a consensus target price of $36.33.

Bancorp Company Profile

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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.

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