California State Teachers Retirement System reduced its stock position in The Bancorp, Inc. (NASDAQ:TBBK)

California State Teachers Retirement System reduced its stake in The Bancorp, Inc. (NASDAQ:TBBK – Free Report) by 6.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,433 shares of the bank’s stock after selling 3,773 shares during the quarter. California State Teachers Retirement System’s holdings in Bancorp were worth $1,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TBBK. Raymond James & Associates boosted its holdings in Bancorp by 43.3% in the fourth quarter. Raymond James & Associates now owns 13,244 shares of the bank’s stock worth $511,000 after purchasing an additional 4,002 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Bancorp by 20.0% in the fourth quarter. New York State Teachers Retirement System now owns 26,747 shares of the bank’s stock worth $1,031,000 after buying an additional 4,464 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Bancorp by 33.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 9,696 shares of the bank’s stock worth $374,000 after buying an additional 2,442 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Bancorp during the fourth quarter valued at approximately $1,033,000. Finally, Sippican Capital Advisors boosted its holdings in Bancorp by 2.2% in the fourth quarter. Sippican Capital Advisors now owns 165,805 shares of the bank’s stock worth $6,393,000 after purchasing an additional 3,580 shares in the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s shares.

Bancorp stock fell 0.8%

Shares of TBBK stock opened at $46.92 on Friday. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 12.75 and a beta of 1.47. Bancorp, Inc. has a one year low of $29.92 and a one year high of $53.48. The company’s fifty day moving average price is $41.04 and its 200 day moving average price is $38.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88, and a quick ratio of 0.84.

Analyst upgrades and downgrades

TBBK has been the subject of several analyst reports. StockNews.com cut shares of Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. Piper Sandler lifted their price objective on shares of Bancorp from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $55.00 price objective (up from $46.00) on shares of Bancorp in a research report on Monday. July 29.

Read our latest report on TBBK

Bancorp insider buying and selling

In other Bancorp news, Director Cheryl Creuzot sold 766 shares of Bancorp stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $32.64, for a total value of $25,002.24. Following the sale, the director now directly owns 7,638 shares in the company, valued at approximately $249,304.32. The sale was disclosed in a legal filing with the SEC, which is accessible via this hyperlink. 5.20% of shares are currently owned by insiders.

Bancorp company profile

(Free report)

The Bancorp, Inc operates as the bank holding company for The Bancorp Bank, the National Association that provides banking products and services in the United States. Offers a wide range of deposit products and services, including current, savings, time, money market and commercial accounts; overdrafts; and certificates of deposit.

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