Beneficial Bancorp (BNCL) Upgraded at BidaskClub

Beneficial Bancorp (NASDAQ:BNCL) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other brokerages also recently weighed in on BNCL. 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. Sandler O’Neill raised shares of Beneficial Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Friday, August 10th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $16.50 price objective on shares of Beneficial Bancorp in a report on Tuesday, July 24th.

Shares of Beneficial Bancorp stock opened at $15.76 on Tuesday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 25.88 and a beta of 0.63. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.50. Beneficial Bancorp has a fifty-two week low of $14.75 and a fifty-two week high of $18.60.

Beneficial Bancorp (NASDAQ:BNCL) last issued its earnings results on Friday, October 19th. The bank reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $54.84 million during the quarter. Beneficial Bancorp had a net margin of 12.85% and a return on equity of 4.28%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of Beneficial Bancorp by 3,025.1% during the 1st quarter. Royal Bank of Canada now owns 6,844 shares of the bank’s stock valued at $107,000 after purchasing an additional 6,625 shares during the last quarter. Captrust Financial Advisors bought a new position in shares of Beneficial Bancorp during the 2nd quarter valued at about $119,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Beneficial Bancorp during the 2nd quarter valued at about $210,000. Barclays PLC boosted its holdings in shares of Beneficial Bancorp by 30.3% during the 1st quarter. Barclays PLC now owns 14,311 shares of the bank’s stock valued at $222,000 after purchasing an additional 3,326 shares during the last quarter. Finally, Xact Kapitalforvaltning AB boosted its holdings in shares of Beneficial Bancorp by 53.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 17,846 shares of the bank’s stock valued at $278,000 after purchasing an additional 6,200 shares during the last quarter. 70.91% of the stock is owned by institutional investors and hedge funds.

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.

Further Reading: How to Invest in Marijuana Stocks

Receive News & Ratings for Beneficial Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Beneficial Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply