Beneficial Bancorp, Inc. (NASDAQ:BNCL) CFO Thomas David Cestare sold 25,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $17.00, for a total transaction of $425,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Beneficial Bancorp (NASDAQ:BNCL) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.13 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $49.18 million for the quarter, compared to analysts’ expectations of $45.36 million. During the same quarter in the previous year, the business posted $0.04 earnings per share.
A number of hedge funds have recently bought and sold shares of BNCL. Nationwide Fund Advisors increased its position in Beneficial Bancorp by 0.8% during the first quarter. Nationwide Fund Advisors now owns 52,873 shares of the bank’s stock valued at $846,000 after acquiring an additional 426 shares during the last quarter. Wells Fargo & Company MN increased its position in Beneficial Bancorp by 2.3% during the first quarter. Wells Fargo & Company MN now owns 48,754 shares of the bank’s stock valued at $780,000 after acquiring an additional 1,099 shares during the last quarter. Bank of New York Mellon Corp increased its position in Beneficial Bancorp by 4.7% during the first quarter. Bank of New York Mellon Corp now owns 420,526 shares of the bank’s stock valued at $6,728,000 after acquiring an additional 18,841 shares during the last quarter. Sei Investments Co. increased its position in Beneficial Bancorp by 0.9% during the first quarter. Sei Investments Co. now owns 35,324 shares of the bank’s stock valued at $565,000 after acquiring an additional 311 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Beneficial Bancorp by 4.7% during the first quarter. Victory Capital Management Inc. now owns 12,180 shares of the bank’s stock valued at $195,000 after acquiring an additional 542 shares during the last quarter. Institutional investors and hedge funds own 68.71% of the company’s stock.
A number of brokerages have issued reports on BNCL. BidaskClub lowered shares of Beneficial Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $16.00 price target on shares of Beneficial Bancorp in a report on Tuesday, October 3rd.
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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