TIAA CREF Investment Management LLC lowered its position in shares of Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,920 shares of the bank’s stock after selling 14,904 shares during the period. TIAA CREF Investment Management LLC owned 0.67% of Beneficial Bancorp worth $7,503,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in shares of Beneficial Bancorp during the fourth quarter worth approximately $3,741,000. State Street Corp raised its position in shares of Beneficial Bancorp by 8.3% in the fourth quarter. State Street Corp now owns 1,452,557 shares of the bank’s stock worth $26,728,000 after buying an additional 111,255 shares during the period. Federated Investors Inc. PA purchased a new position in Beneficial Bancorp during the fourth quarter worth about $818,000. Norges Bank purchased a new position in Beneficial Bancorp during the fourth quarter worth about $13,693,000. Finally, Teachers Advisors LLC raised its position in Beneficial Bancorp by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 182,485 shares of the bank’s stock worth $3,358,000 after buying an additional 54,088 shares during the last quarter. 69.93% of the stock is currently owned by institutional investors.
Beneficial Bancorp, Inc. (NASDAQ:BNCL) opened at 14.85 on Wednesday. Beneficial Bancorp, Inc. has a 12-month low of $12.68 and a 12-month high of $19.00. The company’s 50-day moving average price is $14.97 and its 200-day moving average price is $16.41. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 38.98 and a beta of 0.54.
Beneficial Bancorp (NASDAQ:BNCL) last released its earnings results on Friday, April 21st. The bank reported $0.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.11. The company had revenue of $47.84 million during the quarter, compared to the consensus estimate of $44.76 million. Beneficial Bancorp had a return on equity of 3.36% and a net margin of 13.47%. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities analysts expect that Beneficial Bancorp, Inc. will post $0.45 EPS for the current fiscal year.
A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $16.50 target price on shares of Beneficial Bancorp in a report on Wednesday, April 5th. BidaskClub raised Beneficial Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th.
In other news, EVP Joanne R. Ryder sold 27,496 shares of the business’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $16.66, for a total transaction of $458,083.36. Following the completion of the sale, the executive vice president now owns 38,283 shares in the company, valued at $637,794.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.80% of the company’s stock.
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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