Eagle Boston Investment Management Inc. reduced its position in Beneficial Bancorp (NASDAQ:BNCL) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 66,491 shares of the bank’s stock after selling 9,002 shares during the quarter. Eagle Boston Investment Management Inc. owned about 0.09% of Beneficial Bancorp worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Beneficial Bancorp by 1.6% in the 4th quarter. BlackRock Inc. now owns 4,558,403 shares of the bank’s stock worth $74,987,000 after buying an additional 70,305 shares during the period. Wells Fargo & Company MN raised its position in shares of Beneficial Bancorp by 50.9% in the 3rd quarter. Wells Fargo & Company MN now owns 83,821 shares of the bank’s stock worth $1,391,000 after buying an additional 28,282 shares during the period. Thrivent Financial For Lutherans raised its position in shares of Beneficial Bancorp by 59.2% in the 4th quarter. Thrivent Financial For Lutherans now owns 770,801 shares of the bank’s stock worth $12,680,000 after buying an additional 286,606 shares during the period. First Trust Advisors LP raised its position in shares of Beneficial Bancorp by 47.4% in the 4th quarter. First Trust Advisors LP now owns 160,419 shares of the bank’s stock worth $2,639,000 after buying an additional 51,616 shares during the period. Finally, Clearbridge LLC raised its position in shares of Beneficial Bancorp by 10.3% in the 4th quarter. Clearbridge LLC now owns 992,189 shares of the bank’s stock worth $16,062,000 after buying an additional 92,400 shares during the period. 71.41% of the stock is currently owned by institutional investors and hedge funds.
Beneficial Bancorp opened at $16.35 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.09 and a current ratio of 1.09. Beneficial Bancorp has a 12 month low of $14.40 and a 12 month high of $17.50. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 31.44 and a beta of 0.55.
Beneficial Bancorp (NASDAQ:BNCL) last released its quarterly earnings data on Friday, April 20th. The bank reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. Beneficial Bancorp had a return on equity of 3.74% and a net margin of 11.07%. The company had revenue of $49.87 million for the quarter.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 10th. Shareholders of record on Monday, April 30th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.47%. The ex-dividend date was Friday, April 27th.
Separately, BidaskClub raised Beneficial Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, April 28th.
In other Beneficial Bancorp news, EVP Martin F. Gallagher, Jr. sold 35,000 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $15.37, for a total value of $537,950.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Frank Farnesi sold 27,498 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $15.08, for a total value of $414,669.84. The disclosure for this sale can be found here. Insiders sold 120,494 shares of company stock worth $1,860,208 over the last three months. 5.50% of the stock is currently owned by corporate insiders.
Beneficial Bancorp Profile
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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