Beneficial Bancorp (BNCL) Rating Lowered to Hold at BidaskClub
Beneficial Bancorp (NASDAQ:BNCL) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
Separately, Keefe, Bruyette & Woods restated a “hold” rating and set a $17.00 target price on shares of Beneficial Bancorp in a research note on Friday, October 20th.
Beneficial Bancorp (NASDAQ:BNCL) opened at $16.20 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.52. The stock has a market cap of $1,245.33, a P/E ratio of 34.89 and a beta of 0.54. Beneficial Bancorp has a 1-year low of $14.30 and a 1-year high of $19.00.
Beneficial Bancorp (NASDAQ:BNCL) last posted its quarterly earnings data on Friday, October 20th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $49.50 million for the quarter, compared to the consensus estimate of $45.62 million. Beneficial Bancorp had a net margin of 15.74% and a return on equity of 3.39%. During the same quarter last year, the firm posted $0.14 earnings per share.
In other Beneficial Bancorp news, Director Elizabeth H. Gemmill sold 13,748 shares of Beneficial Bancorp stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $17.00, for a total transaction of $233,716.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas David Cestare sold 25,000 shares of Beneficial Bancorp stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $17.00, for a total transaction of $425,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,881 shares of company stock worth $1,247,479. Company insiders own 5.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Janus Henderson Group PLC bought a new position in Beneficial Bancorp in the third quarter worth about $9,446,000. JPMorgan Chase & Co. raised its holdings in Beneficial Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 2,756,263 shares of the bank’s stock worth $45,892,000 after purchasing an additional 294,370 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Beneficial Bancorp by 4.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,894,524 shares of the bank’s stock valued at $73,419,000 after acquiring an additional 196,556 shares in the last quarter. Renaissance Technologies LLC boosted its position in Beneficial Bancorp by 3.2% in the second quarter. Renaissance Technologies LLC now owns 3,820,870 shares of the bank’s stock valued at $57,313,000 after buying an additional 119,300 shares during the last quarter. Finally, State Street Corp boosted its position in Beneficial Bancorp by 6.2% in the second quarter. State Street Corp now owns 1,486,773 shares of the bank’s stock valued at $22,307,000 after buying an additional 87,404 shares during the last quarter. 69.37% of the stock is owned by hedge funds and other institutional investors.
Beneficial Bancorp Company Profile
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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