Insider Selling: Beneficial Bancorp, Inc. (BNCL) Director Sells 11,019 Shares of Stock
Beneficial Bancorp, Inc. (NASDAQ:BNCL) Director Frank Farnesi sold 11,019 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Beneficial Bancorp, Inc. (NASDAQ:BNCL) traded up $0.20 during trading on Thursday, hitting $16.75. 149,300 shares of the stock traded hands, compared to its average volume of 171,543. The stock has a market cap of $1,250.00, a PE ratio of 35.64 and a beta of 0.62. Beneficial Bancorp, Inc. has a 1-year low of $14.30 and a 1-year high of $18.30. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.52.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings data on Friday, October 20th. The bank reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $49.50 million during the quarter, compared to analysts’ expectations of $45.62 million. Beneficial Bancorp had a net margin of 15.74% and a return on equity of 3.39%. During the same period in the previous year, the company earned $0.14 EPS.
Several institutional investors have recently added to or reduced their stakes in BNCL. Janus Henderson Group PLC purchased a new stake in shares of Beneficial Bancorp during the 3rd quarter worth $9,446,000. JPMorgan Chase & Co. raised its stake in Beneficial Bancorp by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,756,263 shares of the bank’s stock worth $45,892,000 after acquiring an additional 294,370 shares in the last quarter. 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 worth $73,419,000 after acquiring an additional 196,556 shares in the last quarter. 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 worth $57,313,000 after acquiring an additional 119,300 shares in the last quarter. Finally, State Street Corp raised its stake in Beneficial Bancorp by 6.2% during the 2nd quarter. State Street Corp now owns 1,486,773 shares of the bank’s stock worth $22,307,000 after acquiring an additional 87,404 shares in the last quarter. 69.35% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have commented on BNCL shares. BidaskClub cut shares of Beneficial Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $17.00 price target on shares of Beneficial Bancorp in a research report on Friday, October 20th.
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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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