TIAA CREF Investment Management LLC cut its holdings in shares of Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 5.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 444,394 shares of the bank’s stock after selling 24,526 shares during the period. TIAA CREF Investment Management LLC owned about 0.63% of Beneficial Bancorp worth $6,666,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in Beneficial Bancorp during the second quarter worth $155,000. KCG Holdings Inc. bought a new stake in Beneficial Bancorp during the first quarter worth $170,000. BNP Paribas Arbitrage SA lifted its stake in Beneficial Bancorp by 468.3% during the second quarter. BNP Paribas Arbitrage SA now owns 10,974 shares of the bank’s stock worth $165,000 after purchasing an additional 9,043 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Beneficial Bancorp by 4.7% during the first quarter. Victory Capital Management Inc. now owns 12,180 shares of the bank’s stock worth $195,000 after purchasing an additional 542 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in Beneficial Bancorp during the second quarter worth $249,000. Hedge funds and other institutional investors own 68.71% of the company’s stock.
Several equities research analysts have weighed in on BNCL shares. BidaskClub cut Beneficial Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, June 23rd. Keefe, Bruyette & Woods set a $16.00 target price on Beneficial Bancorp and gave the stock a “hold” rating in a research note on Thursday, August 17th.
In other Beneficial Bancorp news, Director Thomas J. Lewis sold 14,107 shares of the firm’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $16.00, for a total value of $225,712.00. Following the completion of the transaction, the director now directly owns 69,784 shares of the company’s stock, valued at approximately $1,116,544. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth H. Gemmill sold 13,748 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $17.00, for a total transaction of $233,716.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,955 shares of company stock valued at $903,513. Insiders own 5.80% of the company’s stock.
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Beneficial Bancorp, Inc. (NASDAQ:BNCL) opened at 17.05 on Friday. The stock’s 50 day moving average is $15.81 and its 200 day moving average is $15.48. Beneficial Bancorp, Inc. has a one year low of $14.05 and a one year high of $19.00. The firm has a market capitalization of $1.20 billion, a P/E ratio of 35.23 and a beta of 0.55.
Beneficial Bancorp (NASDAQ:BNCL) last announced its quarterly earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.02. Beneficial Bancorp had a net margin of 16.20% and a return on equity of 3.47%. The firm had revenue of $49.18 million during the quarter, compared to the consensus estimate of $45.36 million. During the same period last year, the firm earned $0.04 EPS. On average, equities research analysts predict that Beneficial Bancorp, Inc. will post $0.48 earnings per share for the current fiscal year.
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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