The Manufacturers Life Insurance Company Buys New Stake in TFS Financial Corporation $TFSL

The Manufacturers Life Insurance Company purchased a new stake in TFS Financial Corporation (NASDAQ:TFSL) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 30,761 shares of the bank’s stock, valued at approximately $545,000.

Several other hedge funds also recently added to or reduced their stakes in TFSL. BlackRock Inc. acquired a new position in TFS Financial during the 2nd quarter worth approximately $69,398,000. Bank of New York Mellon Corp purchased a new stake in shares of TFS Financial during the second quarter valued at approximately $33,176,000. Gator Capital Management LLC purchased a new stake in shares of TFS Financial during the fourth quarter valued at approximately $6,290,000. Norges Bank acquired a new position in shares of TFS Financial during the fourth quarter worth $5,248,000. Finally, State Street Corp boosted its stake in shares of TFS Financial by 24.6% in the fourth quarter. State Street Corp now owns 1,966,004 shares of the bank’s stock valued at $26,305,000 after purchasing an additional 387,992 shares during the period. 9.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Gavin Stefanski sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $18.35, for a total value of $119,275.00. Following the completion of the sale, the insider owned 19,266 shares of the company’s stock, valued at $353,531.10. This represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Meredith Weil sold 4,316 shares of the stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $16.80, for a total value of $72,508.80. Following the transaction, the chief financial officer directly owned 38,480 shares of the company’s stock, valued at approximately $646,464. The trade was a 10.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 11,416 shares of company stock valued at $202,584 over the last three months. Corporate insiders own 0.72% of the company’s stock.

TFS Financial Price Performance

NASDAQ:TFSL opened at $17.57 on Monday. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 48.81 and a beta of 0.69. TFS Financial Corporation has a one year low of $12.53 and a one year high of $19.49. The stock has a 50-day simple moving average of $17.82 and a 200 day simple moving average of $16.01. The company has a debt-to-equity ratio of 2.97, a quick ratio of 1.66 and a current ratio of 1.67.

TFS Financial (NASDAQ:TFSL) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. TFS Financial had a return on equity of 5.32% and a net margin of 12.36%.The firm had revenue of $89.27 million for the quarter, compared to analysts’ expectations of $87.05 million. Sell-side analysts predict that TFS Financial Corporation will post 0.36 EPS for the current fiscal year.

TFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be given a $0.3175 dividend. This is a positive change from TFS Financial’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, September 9th. This represents a $1.27 annualized dividend and a yield of 7.2%. TFS Financial’s payout ratio is currently 313.89%.

Analysts Set New Price Targets

A number of equities analysts have commented on TFSL shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $18.00 price objective (up from $16.00) on shares of TFS Financial in a report on Monday, August 3rd. Wall Street Zen upgraded TFS Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Piper Sandler increased their price target on TFS Financial from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, Weiss Ratings upgraded TFS Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.00.

TFS Financial Company Profile

TFS Financial Corporation is a bank holding company for TFS Capital Bank, headquartered in Austin, Texas. The company offers commercial banking and specialty finance solutions designed to meet the unique needs of small and mid-sized businesses. Through its bank charter, TFS Financial provides a full suite of deposit products alongside a range of lending options tailored to growing enterprises.

The bank’s lending portfolio includes equipment financing, working capital lines of credit, and term loans structured to support capital expenditures and operational needs.