BidaskClub upgraded shares of Beneficial Bancorp (NASDAQ:BNCL) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
Beneficial Bancorp (BNCL) opened at $16.05 on Friday. The firm has a market cap of $1,210.00, a P/E ratio of 50.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.10 and a current ratio of 1.10. Beneficial Bancorp has a 12-month low of $14.30 and a 12-month high of $17.50.
Beneficial Bancorp (NASDAQ:BNCL) last announced its quarterly earnings results on Thursday, February 1st. The bank reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $46.17 million. Beneficial Bancorp had a net margin of 10.56% and a return on equity of 3.58%. During the same period in the previous year, the company posted $0.10 earnings per share.
In other Beneficial Bancorp news, EVP Martin F. Gallagher, Jr. sold 35,000 shares of Beneficial Bancorp stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $15.37, for a total transaction of $537,950.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frank Farnesi sold 11,019 shares of Beneficial Bancorp stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $16.66, for a total transaction of $183,576.54. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,517 shares of company stock worth $1,136,196. 5.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC acquired a new position in shares of Beneficial Bancorp during the fourth quarter worth $179,000. Xact Kapitalforvaltning AB acquired a new position in shares of Beneficial Bancorp during the fourth quarter worth $192,000. FDx Advisors Inc. acquired a new position in shares of Beneficial Bancorp during the third quarter worth $201,000. SG Americas Securities LLC lifted its position in shares of Beneficial Bancorp by 70.8% during the third quarter. SG Americas Securities LLC now owns 12,187 shares of the bank’s stock worth $202,000 after purchasing an additional 5,053 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in shares of Beneficial Bancorp during the fourth quarter worth $386,000. 72.28% of the stock is currently owned by institutional investors and hedge funds.
About Beneficial Bancorp
Beneficial Mutual Bancorp, Inc is a savings and loan holding company. The Company’s business activities are the ownership of Beneficial Bank (the Bank). The Bank has also operated under the name Beneficial Mutual Savings Bank. The Bank is a Pennsylvania chartered savings bank. It attracts deposits from the general public and uses those funds to originate a variety of loans, including commercial real estate loans, consumer loans, home equity loans, one- to four-family real estate loans, commercial business loans and construction loans.
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