Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Beneficial Bancorp, Inc. (BNCL)
Beneficial Bancorp, Inc. (NASDAQ:BNCL)‘s stock had its “hold” rating reaffirmed by Keefe, Bruyette & Woods in a report issued on Friday. They currently have a $17.00 price target on the bank’s stock.
Separately, BidaskClub upgraded Beneficial Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 30th.
Shares of Beneficial Bancorp (NASDAQ BNCL) traded up 0.29% on Friday, hitting $17.00. The company had a trading volume of 248,121 shares. Beneficial Bancorp has a 12-month low of $14.30 and a 12-month high of $19.00. The firm has a 50-day moving average price of $16.15 and a 200 day moving average price of $15.51. The company has a market capitalization of $1.20 billion, a P/E ratio of 35.12 and a beta of 0.55.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings results on Friday, October 20th. The bank reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $49.50 million during the quarter, compared to the consensus estimate of $45.62 million. Beneficial Bancorp had a return on equity of 3.47% and a net margin of 16.20%. During the same period in the previous year, the company posted $0.14 EPS. Equities analysts expect that Beneficial Bancorp will post $0.48 EPS for the current year.
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In related news, Director Thomas J. Lewis sold 14,107 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $16.00, for a total value of $225,712.00. Following the completion of the sale, the director now directly owns 69,784 shares in the company, valued at approximately $1,116,544. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth H. Gemmill sold 13,748 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $17.00, for a total value of $233,716.00. The disclosure for this sale can be found here. Insiders sold a total of 66,604 shares of company stock valued at $1,122,973 over the last 90 days. 5.80% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNCL. FMR LLC boosted its stake in Beneficial Bancorp by 10.9% in the 1st quarter. FMR LLC now owns 6,365,864 shares of the bank’s stock valued at $101,855,000 after purchasing an additional 623,853 shares during the period. Dimensional Fund Advisors LP boosted its stake in Beneficial Bancorp by 6.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,697,968 shares of the bank’s stock valued at $75,169,000 after purchasing an additional 281,399 shares during the period. Vanguard Group Inc. boosted its stake in Beneficial Bancorp by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 6,253,376 shares of the bank’s stock valued at $100,054,000 after purchasing an additional 234,845 shares during the period. Renaissance Technologies LLC boosted its stake in Beneficial Bancorp by 3.2% in the 2nd quarter. Renaissance Technologies LLC now owns 3,820,870 shares of the bank’s stock valued at $57,313,000 after purchasing an additional 119,300 shares during the period. Finally, State Street Corp boosted its stake in Beneficial Bancorp by 6.2% in the 2nd quarter. State Street Corp now owns 1,486,773 shares of the bank’s stock valued at $22,307,000 after purchasing an additional 87,404 shares during the period. Institutional investors and hedge funds own 68.71% 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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