BidaskClub cut shares of Beneficial Bancorp (NASDAQ:BNCL) from a sell rating to a strong sell rating in a research note issued to investors on Friday morning.

A number of other brokerages have also recently commented on BNCL. Keefe, Bruyette & Woods restated a hold rating and set a $16.50 target price on shares of Beneficial Bancorp in a report on Tuesday, July 24th. Compass Point restated a buy rating and set a $21.00 target price on shares of Beneficial Bancorp in a report on Thursday, August 9th. Finally, Sandler O’Neill upgraded shares of Beneficial Bancorp from a hold rating to a buy rating and set a $22.00 target price on the stock in a report on Friday, August 10th.

Shares of BNCL stock opened at $17.10 on Friday. Beneficial Bancorp has a 12 month low of $14.75 and a 12 month high of $18.60. The firm has a market cap of $1.30 billion, a PE ratio of 31.45 and a beta of 0.64. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50.

Beneficial Bancorp (NASDAQ:BNCL) last announced its earnings results on Friday, July 20th. The bank reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Beneficial Bancorp had a net margin of 11.93% and a return on equity of 3.98%. The firm had revenue of $52.51 million for the quarter.

In related news, Director Thomas J. Lewis sold 13,068 shares of the company’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $16.20, for a total value of $211,701.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Elizabeth H. Gemmill sold 10,095 shares of the company’s stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $17.00, for a total transaction of $171,615.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,158 shares of company stock worth $798,234. Company insiders own 5.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in Beneficial Bancorp by 1.2% in the 2nd quarter. Northern Trust Corp now owns 870,853 shares of the bank’s stock worth $14,108,000 after purchasing an additional 10,252 shares in the last quarter. California Public Employees Retirement System boosted its stake in Beneficial Bancorp by 12.1% in the 2nd quarter. California Public Employees Retirement System now owns 151,631 shares of the bank’s stock worth $2,456,000 after purchasing an additional 16,399 shares in the last quarter. Millennium Management LLC boosted its stake in Beneficial Bancorp by 68.9% in the 2nd quarter. Millennium Management LLC now owns 236,111 shares of the bank’s stock worth $3,825,000 after purchasing an additional 96,289 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Beneficial Bancorp by 27.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 22,605 shares of the bank’s stock worth $366,000 after purchasing an additional 4,936 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Beneficial Bancorp in the 2nd quarter worth about $210,000. Institutional investors own 70.97% of the company’s stock.

About Beneficial Bancorp

Beneficial Bancorp, Inc, together with its subsidiaries, provides consumer and commercial banking services to individuals, businesses, and nonprofit organizations in Philadelphia and Southern New Jersey area. The company accepts various deposit products, including non-interest bearing demand deposits, such as individual checking accounts; interest-bearing demand accounts comprising NOW, municipal, and money market accounts; savings accounts; certificates of deposit; and commercial checking accounts, as well as checking accounts primarily for small businesses.

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