Beneficial Bancorp, Inc. (NASDAQ:BNCL)‘s stock had its “hold” rating reissued by investment analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $16.00 price target on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 4.48% from the company’s previous close.
Separately, BidaskClub upgraded Beneficial Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th.
Shares of Beneficial Bancorp (NASDAQ:BNCL) traded down 0.89% during mid-day trading on Tuesday, reaching $16.75. The company had a trading volume of 283,942 shares. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 34.61 and a beta of 0.55. Beneficial Bancorp has a 52 week low of $14.05 and a 52 week high of $19.00. The stock has a 50 day moving average of $15.38 and a 200-day moving average of $15.43.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $49.18 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $0.04 EPS. On average, analysts expect that Beneficial Bancorp will post $0.48 earnings per share for the current fiscal year.
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In other Beneficial Bancorp news, Director Thomas J. Lewis sold 14,107 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $16.00, for a total transaction of $225,712.00. Following the completion of the transaction, the director now directly owns 69,784 shares in the company, valued at $1,116,544. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its position in shares of Beneficial Bancorp by 5.0% in the second quarter. Russell Investments Group Ltd. now owns 230,230 shares of the bank’s stock valued at $3,454,000 after purchasing an additional 11,011 shares during the period. Bank of New York Mellon Corp lifted its stake in Beneficial Bancorp by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 420,526 shares of the bank’s stock valued at $6,728,000 after buying an additional 18,841 shares in the last quarter. Thrivent Financial For Lutherans lifted its stake in Beneficial Bancorp by 6.9% in the 1st quarter. Thrivent Financial For Lutherans now owns 272,520 shares of the bank’s stock valued at $4,360,000 after buying an additional 17,570 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Beneficial Bancorp by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 320,659 shares of the bank’s stock valued at $5,131,000 after buying an additional 16,704 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Beneficial Bancorp by 3.4% in the 1st quarter. OppenheimerFunds Inc. now owns 803,767 shares of the bank’s stock valued at $12,861,000 after buying an additional 26,587 shares in the last quarter. 68.71% of the stock is currently owned by institutional investors and hedge funds.
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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