Schwab Charles Investment Management Inc. lifted its stake in Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 357,208 shares of the bank’s stock after purchasing an additional 15,290 shares during the period. Schwab Charles Investment Management Inc. owned about 0.47% of Beneficial Bancorp worth $5,877,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in Beneficial Bancorp by 6.2% in the second 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. Janus Henderson Group PLC purchased a new position in Beneficial Bancorp in the third quarter valued at $9,446,000. Alps Advisors Inc. purchased a new position in Beneficial Bancorp in the third quarter valued at $510,000. JPMorgan Chase & Co. boosted its holdings in Beneficial Bancorp by 12.0% in the third quarter. JPMorgan Chase & Co. now owns 2,756,263 shares of the bank’s stock valued at $45,892,000 after purchasing an additional 294,370 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Beneficial Bancorp by 50.9% in the third quarter. Wells Fargo & Company MN now owns 83,821 shares of the bank’s stock valued at $1,391,000 after purchasing an additional 28,282 shares during the period. Hedge funds and other institutional investors own 72.28% of the company’s stock.
In other Beneficial Bancorp news, Director Frank Farnesi sold 27,498 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $15.08, for a total value of $414,669.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Martin F. Gallagher, Jr. sold 35,000 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $15.37, for a total value of $537,950.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,517 shares of company stock worth $1,136,196. 5.50% of the stock is owned by insiders.
Beneficial Bancorp (NASDAQ:BNCL) last posted its quarterly earnings results on Thursday, February 1st. The bank reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Beneficial Bancorp had a return on equity of 3.58% and a net margin of 10.56%. The company had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $46.17 million. During the same period last year, the firm earned $0.10 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Friday, February 2nd. Beneficial Bancorp’s dividend payout ratio is presently 75.00%.
Separately, BidaskClub lowered Beneficial Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th.
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Beneficial Bancorp Profile
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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