BidaskClub Lowers Beneficial Bancorp (BNCL) to Sell

BidaskClub downgraded shares of Beneficial Bancorp (NASDAQ:BNCL) from a hold rating to a sell rating in a report issued on Wednesday morning.

A number of other analysts have also recently weighed in on BNCL. Keefe, Bruyette & Woods reiterated a hold rating and issued a $16.50 price target on shares of Beneficial Bancorp in a research report on Tuesday, July 24th. Compass Point reiterated a buy rating and issued a $21.00 price target on shares of Beneficial Bancorp in a research report on Thursday, August 9th. Finally, Sandler O’Neill upgraded Beneficial Bancorp from a hold rating to a buy rating and set a $22.00 price target on the stock in a research report on Friday, August 10th.

NASDAQ:BNCL traded down $0.18 during trading hours on Wednesday, reaching $15.86. The company had a trading volume of 285,288 shares, compared to its average volume of 357,718. Beneficial Bancorp has a one year low of $14.75 and a one year high of $18.60. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 26.97 and a beta of 0.72. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 1.10.

Beneficial Bancorp (NASDAQ:BNCL) last announced its quarterly earnings results on Friday, October 19th. The bank reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Beneficial Bancorp had a return on equity of 4.28% and a net margin of 12.85%. The firm had revenue of $54.84 million for the quarter.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 8th. Stockholders of record on Monday, October 29th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, October 26th.

Several hedge funds have recently made changes to their positions in the company. Strs Ohio grew its holdings in shares of Beneficial Bancorp by 5.9% during the second quarter. Strs Ohio now owns 59,500 shares of the bank’s stock worth $963,000 after purchasing an additional 3,300 shares during the last quarter. Eagle Boston Investment Management Inc. grew its holdings in shares of Beneficial Bancorp by 4.9% during the third quarter. Eagle Boston Investment Management Inc. now owns 72,482 shares of the bank’s stock worth $1,224,000 after purchasing an additional 3,367 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Beneficial Bancorp by 3.4% during the third quarter. Wells Fargo & Company MN now owns 104,048 shares of the bank’s stock worth $1,758,000 after purchasing an additional 3,404 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in shares of Beneficial Bancorp by 20.2% during the second quarter. Xact Kapitalforvaltning AB now owns 21,446 shares of the bank’s stock worth $347,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY grew its holdings in shares of Beneficial Bancorp by 27.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 22,605 shares of the bank’s stock worth $366,000 after purchasing an additional 4,936 shares during the last quarter. Institutional investors own 70.77% of the company’s stock.

Beneficial Bancorp Company 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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