Northwestern Mutual Wealth Management Co. Reduces Position in Beneficial Bancorp Inc (BNCL)

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Northwestern Mutual Wealth Management Co. lowered its holdings in shares of Beneficial Bancorp Inc (NASDAQ:BNCL) by 15.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,526 shares of the bank’s stock after selling 7,474 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.05% of Beneficial Bancorp worth $640,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Beneficial Bancorp in the second quarter worth about $9,255,000. Dimensional Fund Advisors LP raised its holdings in Beneficial Bancorp by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,395,657 shares of the bank’s stock worth $83,902,000 after buying an additional 226,143 shares during the last quarter. BlackRock Inc. raised its holdings in Beneficial Bancorp by 4.4% in the second quarter. BlackRock Inc. now owns 4,665,192 shares of the bank’s stock worth $75,577,000 after buying an additional 198,346 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Beneficial Bancorp by 7.5% in the second quarter. Janus Henderson Group PLC now owns 2,149,647 shares of the bank’s stock worth $34,824,000 after buying an additional 150,574 shares during the last quarter. Finally, FSI Group LLC purchased a new position in Beneficial Bancorp in the second quarter worth about $1,978,000. 70.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Beneficial Bancorp stock opened at $17.50 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.10 and a quick ratio of 1.10. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 31.55 and a beta of 0.65. Beneficial Bancorp Inc has a 52-week low of $14.45 and a 52-week high of $18.60.

Beneficial Bancorp (NASDAQ:BNCL) last issued its earnings results on Friday, July 20th. The bank reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. Beneficial Bancorp had a net margin of 11.93% and a return on equity of 3.98%. The business had revenue of $52.51 million during the quarter.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 9th. Stockholders of record on Monday, July 30th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, July 27th. This represents a $0.24 annualized dividend and a dividend yield of 1.37%.

In other news, Director Thomas J. Lewis sold 13,068 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $16.20, for a total transaction of $211,701.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth H. Gemmill sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $17.00, for a total transaction of $42,500.00. The disclosure for this sale can be found here. Insiders have sold 50,658 shares of company stock valued at $840,734 over the last three months. 5.50% of the stock is owned by corporate insiders.

Several research analysts have issued reports on BNCL shares. Sandler O’Neill raised shares of Beneficial Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Friday, August 10th. Compass Point reaffirmed a “buy” rating and issued a $21.00 target price on shares of Beneficial Bancorp in a report on Thursday, August 9th. BidaskClub cut shares of Beneficial Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, July 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $16.50 target price on shares of Beneficial Bancorp in a report on Tuesday, July 24th.

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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Institutional Ownership by Quarter for Beneficial Bancorp (NASDAQ:BNCL)

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