Acadian Asset Management LLC decreased its stake in Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,083,510 shares of the bank’s stock after selling 161,227 shares during the period. Acadian Asset Management LLC owned approximately 1.55% of Beneficial Bancorp worth $16,252,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Beneficial Bancorp during the fourth quarter valued at $13,693,000. Teachers Advisors LLC increased its position in Beneficial Bancorp by 42.1% in the fourth quarter. Teachers Advisors LLC now owns 182,485 shares of the bank’s stock valued at $3,358,000 after buying an additional 54,088 shares during the period. Nationwide Fund Advisors increased its position in Beneficial Bancorp by 0.8% in the first quarter. Nationwide Fund Advisors now owns 52,873 shares of the bank’s stock valued at $846,000 after buying an additional 426 shares during the period. Strs Ohio increased its position in Beneficial Bancorp by 2.4% in the first quarter. Strs Ohio now owns 54,800 shares of the bank’s stock valued at $876,000 after buying an additional 1,300 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Beneficial Bancorp by 9.0% in the first quarter. Russell Investments Group Ltd. now owns 219,219 shares of the bank’s stock valued at $3,508,000 after buying an additional 18,122 shares during the period. Hedge funds and other institutional investors own 69.79% of the company’s stock.
Beneficial Bancorp, Inc. (NASDAQ BNCL) traded up 1.95% on Monday, hitting $15.70. 36,409 shares of the company traded hands. Beneficial Bancorp, Inc. has a 12 month low of $13.53 and a 12 month high of $19.00. The stock has a market cap of $1.11 billion, a PE ratio of 32.44 and a beta of 0.54. The stock’s 50-day moving average is $15.20 and its 200 day moving average is $15.96.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings data on Friday, July 21st. The bank reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $49.18 million for the quarter, compared to the consensus estimate of $45.36 million. Beneficial Bancorp had a net margin of 16.20% and a return on equity of 3.47%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Equities research analysts expect that Beneficial Bancorp, Inc. will post $0.48 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, July 28th. Beneficial Bancorp’s dividend payout ratio is currently 50.00%.
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Several research analysts recently weighed in on BNCL shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $16.50 price target on shares of Beneficial Bancorp in a research report on Wednesday, April 5th. BidaskClub upgraded shares of Beneficial Bancorp from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 10th.
Beneficial Bancorp Company 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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