JPMorgan Chase & Co. Has $36.93 Million Holdings in Beneficial Bancorp, Inc. (BNCL)
JPMorgan Chase & Co. lessened its holdings in Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,461,893 shares of the bank’s stock after selling 59,629 shares during the quarter. JPMorgan Chase & Co. owned 3.49% of Beneficial Bancorp worth $36,928,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BNCL. Fox Run Management L.L.C. bought a new stake in Beneficial Bancorp in the 2nd quarter valued at $155,000. O Shaughnessy Asset Management LLC bought a new stake in Beneficial Bancorp in the 1st quarter valued at $159,000. BNP Paribas Arbitrage SA increased its holdings in Beneficial Bancorp by 468.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,974 shares of the bank’s stock valued at $165,000 after buying an additional 9,043 shares during the period. KCG Holdings Inc. bought a new stake in Beneficial Bancorp in the 1st quarter valued at $170,000. Finally, Victory Capital Management Inc. increased its holdings in Beneficial Bancorp by 4.7% in the 1st quarter. Victory Capital Management Inc. now owns 12,180 shares of the bank’s stock valued at $195,000 after buying an additional 542 shares during the period. 68.71% of the stock is currently owned by hedge funds and other institutional investors.
BNCL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods set a $16.00 target price on shares of Beneficial Bancorp and gave the company a “hold” rating in a research note on Thursday, August 17th. BidaskClub downgraded shares of Beneficial Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th.
Shares of Beneficial Bancorp, Inc. (NASDAQ:BNCL) opened at 15.50 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 32.02 and a beta of 0.55. Beneficial Bancorp, Inc. has a 52 week low of $14.05 and a 52 week high of $19.00. The stock has a 50 day moving average of $15.06 and a 200 day moving average of $15.45.
Beneficial Bancorp (NASDAQ:BNCL) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. Beneficial Bancorp had a return on equity of 3.47% and a net margin of 16.20%. The company had revenue of $49.18 million for the quarter, compared to analysts’ expectations of $45.36 million. During the same quarter last year, the business earned $0.04 earnings per share. Analysts anticipate 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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