Vanguard Group Inc. boosted its position in Beneficial Bancorp, Inc. (NASDAQ:BNCL) by 3.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,253,376 shares of the bank’s stock after buying an additional 234,845 shares during the period. Vanguard Group Inc. owned 8.93% of Beneficial Bancorp worth $100,054,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Beneficial Bancorp during the fourth quarter worth approximately $13,693,000. FMR LLC increased its stake in shares of Beneficial Bancorp by 10.9% in the first quarter. FMR LLC now owns 6,365,864 shares of the bank’s stock valued at $101,855,000 after buying an additional 623,853 shares during the period. Deprince Race & Zollo Inc. bought a new stake in shares of Beneficial Bancorp during the first quarter valued at about $7,958,000. JPMorgan Chase & Co. increased its stake in shares of Beneficial Bancorp by 22.1% in the first quarter. JPMorgan Chase & Co. now owns 2,521,522 shares of the bank’s stock valued at $40,344,000 after buying an additional 456,666 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Beneficial Bancorp by 36.7% in the first quarter. First Trust Advisors LP now owns 256,137 shares of the bank’s stock valued at $4,098,000 after buying an additional 68,781 shares during the period. 70.02% of the stock is currently owned by institutional investors.
Shares of Beneficial Bancorp, Inc. (BNCL) traded down 0.845% during trading on Thursday, hitting $14.675. The stock had a trading volume of 83,125 shares. Beneficial Bancorp, Inc. has a 52 week low of $14.05 and a 52 week high of $19.00. The stock’s 50 day moving average is $15.17 and its 200 day moving average is $15.72. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 30.320 and a beta of 0.54.
Beneficial Bancorp (NASDAQ:BNCL) last posted its earnings results on Friday, July 21st. The bank reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $49.18 million during 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 period in the previous year, the firm posted $0.04 earnings per share. On average, equities research analysts expect that Beneficial Bancorp, Inc. will post $0.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Friday, July 28th. Beneficial Bancorp’s payout ratio is presently 50.00%.
Separately, BidaskClub raised Beneficial Bancorp from a “sell” rating to a “hold” rating in a report on Friday, June 30th.
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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