Alps Advisors Inc. Takes $506,000 Position in Beneficial Bancorp Inc (BNCL)

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Alps Advisors Inc. purchased a new position in shares of Beneficial Bancorp Inc (NASDAQ:BNCL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,751 shares of the bank’s stock, valued at approximately $506,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BNCL. Royal Bank of Canada boosted its position in Beneficial Bancorp by 3,025.1% during the first quarter. Royal Bank of Canada now owns 6,844 shares of the bank’s stock worth $107,000 after acquiring an additional 6,625 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Beneficial Bancorp during the first quarter worth approximately $125,000. Barclays PLC boosted its position in Beneficial Bancorp by 30.3% during the first quarter. Barclays PLC now owns 14,311 shares of the bank’s stock worth $222,000 after acquiring an additional 3,326 shares during the last quarter. Xact Kapitalforvaltning AB boosted its position in Beneficial Bancorp by 53.2% during the first quarter. Xact Kapitalforvaltning AB now owns 17,846 shares of the bank’s stock worth $278,000 after acquiring an additional 6,200 shares during the last quarter. Finally, KBC Group NV boosted its position in Beneficial Bancorp by 92.6% during the first quarter. KBC Group NV now owns 41,015 shares of the bank’s stock worth $638,000 after acquiring an additional 19,720 shares during the last quarter. 70.98% of the stock is owned by hedge funds and other institutional investors.

BNCL has been the topic of a number of analyst reports. BidaskClub lowered shares of Beneficial Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, July 21st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $16.50 price target on shares of Beneficial Bancorp in a report on Tuesday, July 24th. Sandler O’Neill upgraded shares of Beneficial Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Friday, August 10th. Finally, Compass Point reiterated a “buy” rating and issued a $21.00 price target on shares of Beneficial Bancorp in a report on Thursday, August 9th.

In other news, Director Elizabeth H. Gemmill sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $17.00, for a total value of $42,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth H. Gemmill sold 10,095 shares of the company’s stock in a transaction that occurred on 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. Insiders sold a total of 50,658 shares of company stock valued at $840,734 over the last ninety days. Company insiders own 5.50% of the company’s stock.

Shares of BNCL remained flat at $$17.35 during mid-day trading on Friday. 164,339 shares of the company’s stock were exchanged, compared to its average volume of 337,128. Beneficial Bancorp Inc has a 52 week low of $14.75 and a 52 week high of $18.60. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 32.18 and a beta of 0.65.

Beneficial Bancorp (NASDAQ:BNCL) last issued 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. The business had revenue of $52.51 million for the quarter. Beneficial Bancorp had a net margin of 11.93% and a return on equity of 3.98%.

Beneficial Bancorp Profile

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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Institutional Ownership by Quarter for Beneficial Bancorp (NASDAQ:BNCL)

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