Beneficial Bancorp, Inc. (BNCL) Stock Rating Reaffirmed by Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Beneficial Bancorp, Inc. (NASDAQ:BNCL) in a research report released on Tuesday. They currently have a $16.00 price target on the bank’s stock.
Separately, BidaskClub downgraded Beneficial Bancorp from a hold rating to a sell rating in a research note on Thursday, July 13th.
Beneficial Bancorp (NASDAQ:BNCL) opened at 16.80 on Tuesday. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 34.71 and a beta of 0.55. The stock’s 50 day moving average price is $15.56 and its 200 day moving average price is $15.45. Beneficial Bancorp has a one year low of $14.05 and a one year high of $19.00.
Beneficial Bancorp (NASDAQ:BNCL) last issued its earnings results on Friday, July 21st. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $49.18 million for the quarter, compared to the consensus estimate of $45.36 million. Beneficial Bancorp had a return on equity of 3.47% and a net margin of 16.20%. During the same quarter last year, the company earned $0.04 EPS. Equities analysts predict that Beneficial Bancorp will post $0.48 earnings per share for the current fiscal year.
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In related news, Director Thomas J. Lewis sold 14,107 shares of Beneficial Bancorp stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $16.00, for a total transaction of $225,712.00. Following the sale, the director now owns 69,784 shares of the company’s stock, valued at approximately $1,116,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC raised its stake in Beneficial Bancorp by 10.9% during the 1st quarter. FMR LLC now owns 6,365,864 shares of the bank’s stock valued at $101,855,000 after purchasing an additional 623,853 shares during the period. Vanguard Group Inc. raised its stake in Beneficial Bancorp by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 6,284,853 shares of the bank’s stock valued at $94,273,000 after purchasing an additional 31,477 shares during the period. Dimensional Fund Advisors LP raised its stake in Beneficial Bancorp by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,894,524 shares of the bank’s stock valued at $73,419,000 after purchasing an additional 196,556 shares during the period. Renaissance Technologies LLC raised its stake in Beneficial Bancorp by 3.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,820,870 shares of the bank’s stock valued at $57,313,000 after purchasing an additional 119,300 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Beneficial Bancorp by 22.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,521,522 shares of the bank’s stock valued at $40,344,000 after purchasing an additional 456,666 shares during the period. 68.71% of the stock is currently owned by 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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