Beneficial Bancorp, Inc. (BNCL) Holdings Increased by California Public Employees Retirement System
California Public Employees Retirement System boosted its stake in shares of Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,496 shares of the bank’s stock after buying an additional 4,900 shares during the period. California Public Employees Retirement System owned about 0.16% of Beneficial Bancorp worth $1,672,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors acquired a new position in shares of Beneficial Bancorp in the 2nd quarter valued at about $111,000. Fox Run Management L.L.C. acquired a new position in shares of Beneficial Bancorp in the 2nd quarter valued at about $155,000. BNP Paribas Arbitrage SA increased its holdings in shares of 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 purchasing an additional 9,043 shares during the period. KCG Holdings Inc. acquired a new position in shares of Beneficial Bancorp in the 1st quarter valued at about $170,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Beneficial Bancorp by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 14,329 shares of the bank’s stock valued at $215,000 after purchasing an additional 2,149 shares during the period. Hedge funds and other institutional investors own 68.54% of the company’s stock.
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Beneficial Bancorp, Inc. (BNCL) opened at $16.30 on Friday. The firm has a market capitalization of $1,237.74, a PE ratio of 34.68 and a beta of 0.54. Beneficial Bancorp, Inc. has a twelve month low of $14.30 and a twelve month high of $19.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.52.
Beneficial Bancorp (NASDAQ:BNCL) last issued its earnings results on Friday, October 20th. The bank reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $49.50 million for the quarter, compared to the consensus estimate of $45.62 million. Beneficial Bancorp had a return on equity of 3.39% and a net margin of 15.74%. During the same quarter in the prior year, the company earned $0.14 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Monday, October 30th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, October 27th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. Beneficial Bancorp’s dividend payout ratio is 51.06%.
A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods set a $16.00 target price on Beneficial Bancorp and gave the company a “hold” rating in a report on Thursday, August 17th. BidaskClub downgraded Beneficial Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 13th.
In related news, CFO Thomas David Cestare sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $17.00, for a total value of $425,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas J. Lewis sold 14,107 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 69,784 shares of the company’s stock, valued at approximately $1,116,544. The disclosure for this sale can be found here. Insiders sold a total of 69,881 shares of company stock worth $1,178,879 in the last quarter. 5.80% of the stock is owned by corporate insiders.
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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