Beneficial Bancorp (BNCL) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Beneficial Bancorp (NASDAQ:BNCL) from a sell rating to a hold rating in a report released on Tuesday morning.

Shares of Beneficial Bancorp opened at $16.35 on Tuesday, MarketBeat.com reports. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $1.23 billion, a P/E ratio of 31.44 and a beta of 0.55. Beneficial Bancorp has a fifty-two week low of $14.40 and a fifty-two week high of $17.50.

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Beneficial Bancorp (NASDAQ:BNCL) last announced its quarterly earnings data on Friday, April 20th. The bank reported $0.13 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.13. The firm had revenue of $49.87 million during the quarter. Beneficial Bancorp had a net margin of 11.07% and a return on equity of 3.74%.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Investors of record on Monday, April 30th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Friday, April 27th.

In related news, Director Roy D. Yates sold 20,000 shares of Beneficial Bancorp stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $15.80, for a total value of $316,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank Farnesi sold 27,498 shares of Beneficial Bancorp stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $15.08, for a total transaction of $414,669.84. The disclosure for this sale can be found here. Insiders sold 85,494 shares of company stock valued at $1,322,258 in the last 90 days. Company insiders own 5.50% of the company’s stock.

Several hedge funds have recently made changes to their positions in BNCL. Royal Bank of Canada lifted its stake in Beneficial Bancorp by 3,025.1% in the first quarter. Royal Bank of Canada now owns 6,844 shares of the bank’s stock worth $107,000 after acquiring an additional 6,625 shares during the last quarter. SG Americas Securities LLC purchased a new position in Beneficial Bancorp in the first quarter worth approximately $125,000. Two Sigma Securities LLC purchased a new position in Beneficial Bancorp in the fourth quarter worth approximately $179,000. Xact Kapitalforvaltning AB purchased a new position in Beneficial Bancorp in the fourth quarter worth approximately $192,000. Finally, Barclays PLC lifted its stake in Beneficial Bancorp by 30.3% in the first quarter. Barclays PLC now owns 14,311 shares of the bank’s stock worth $222,000 after acquiring an additional 3,326 shares during the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.

About Beneficial Bancorp

Beneficial Bancorp, Inc, together with its subsidiaries, provides consumer and commercial banking services to individuals, businesses, and nonprofit organizations in Philadelphia and Southern New Jersey area. The company accepts various deposit products, including non-interest bearing demand deposits, such as individual checking accounts; interest-bearing demand accounts comprising NOW, municipal, and money market accounts; savings accounts; certificates of deposit; and commercial checking accounts, as well as checking accounts primarily for small businesses.

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