Beneficial Bancorp, Inc. (BNCL) Director Sells $233,716.00 in Stock
Beneficial Bancorp, Inc. (NASDAQ:BNCL) Director Elizabeth H. Gemmill sold 13,748 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $17.00, for a total value of $233,716.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
Beneficial Bancorp, Inc. (NASDAQ:BNCL) traded up 1.17% during mid-day trading on Wednesday, reaching $17.30. The company had a trading volume of 188,068 shares. The stock has a 50 day moving average of $15.75 and a 200 day moving average of $15.47. Beneficial Bancorp, Inc. has a 52 week low of $14.05 and a 52 week high of $19.00. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 35.74 and a beta of 0.55.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. The company had revenue of $49.18 million for the quarter, compared to analyst estimates 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 previous year, the company posted $0.04 earnings per share. Analysts anticipate that Beneficial Bancorp, Inc. will post $0.48 earnings per share for the current year.
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Several analysts recently weighed in on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.00 price target on shares of Beneficial Bancorp in a report on Tuesday, October 3rd. BidaskClub lowered Beneficial Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 13th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. boosted its stake in Beneficial Bancorp by 35.1% during the second quarter. Wasatch Advisors Inc. now owns 131,000 shares of the bank’s stock worth $1,965,000 after buying an additional 34,000 shares during the last quarter. Susquehanna International Group LLP boosted its stake in Beneficial Bancorp by 12.0% during the second quarter. Susquehanna International Group LLP now owns 37,584 shares of the bank’s stock worth $564,000 after buying an additional 4,026 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Beneficial Bancorp by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 54,219 shares of the bank’s stock worth $813,000 after buying an additional 357 shares during the last quarter. State Street Corp boosted its stake in Beneficial Bancorp by 6.2% during the second quarter. State Street Corp now owns 1,486,773 shares of the bank’s stock worth $22,307,000 after buying an additional 87,404 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Beneficial Bancorp by 6.9% during the second quarter. Goldman Sachs Group Inc. now owns 227,091 shares of the bank’s stock worth $3,406,000 after buying an additional 14,698 shares during the last quarter. 68.71% of the stock is currently owned by institutional investors.
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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