Bank of New York Mellon Corp Purchases Shares of 1,872,255 TFS Financial Corporation $TFSL

Key Points

• Bank of New York Mellon acquired 1.87 million TFS Financial shares worth approximately $33.2 million, giving it a 0.67% stake. Institutional investors and hedge funds collectively own 9.81% of TFSL.
• TFS Financial exceeded quarterly expectations, reporting $0.11 EPS versus the $0.08 consensus and $89.27 million in revenue. The company also raised its quarterly dividend to $0.3175, implying a 7.2% annualized yield.
• Insiders sold 14,921 shares worth $257,094 over the past 90 days, while analysts maintain a generally neutral outlook with a consensus “Hold” rating and a $19 price target.

Bank of New York Mellon Corp acquired a new position in shares of TFS Financial Corporation (NASDAQ:TFSL - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,872,255 shares of the bank's stock, valued at approximately $33,176,000. Bank of New York Mellon Corp owned 0.67% of TFS Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TFSL. Maridea Wealth Management LLC bought a new position in shares of TFS Financial during the second quarter worth approximately $734,000. Hennion & Walsh Asset Management Inc. boosted its stake in TFS Financial by 10.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 17,006 shares of the bank's stock valued at $301,000 after purchasing an additional 1,671 shares during the period. Parallel Advisors LLC boosted its stake in TFS Financial by 11.6% in the 1st quarter. Parallel Advisors LLC now owns 29,957 shares of the bank's stock valued at $421,000 after purchasing an additional 3,120 shares during the period. Bank of America Corp DE grew its holdings in TFS Financial by 27.1% in the 1st quarter. Bank of America Corp DE now owns 1,009,309 shares of the bank's stock valued at $14,181,000 after buying an additional 215,491 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in TFS Financial by 45.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,706 shares of the bank's stock valued at $38,000 after buying an additional 841 shares in the last quarter. 9.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Meredith S. Weil sold 4,316 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $16.80, for a total value of $72,508.80. Following the sale, the chief financial officer directly owned 38,480 shares in the company, valued at $646,464. This represents a 10.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gavin B. Stefanski sold 6,500 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $18.35, for a total transaction of $119,275.00. Following the sale, the insider directly owned 19,266 shares of the company's stock, valued at $353,531.10. This represents a 25.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 14,921 shares of company stock worth $257,094 over the last ninety days. Company insiders own 0.72% of the company's stock.

TFS Financial Trading Down 2.1%

Shares of TFSL stock opened at $17.53 on Friday. TFS Financial Corporation has a twelve month low of $12.53 and a twelve month high of $19.49. The stock's fifty day simple moving average is $17.78 and its 200 day simple moving average is $15.91. The company has a quick ratio of 1.66, a current ratio of 1.67 and a debt-to-equity ratio of 2.97. The firm has a market capitalization of $4.92 billion, a P/E ratio of 48.70 and a beta of 0.70.

TFS Financial (NASDAQ:TFSL - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The firm had revenue of $89.27 million for the quarter, compared to analyst estimates of $87.05 million. TFS Financial had a return on equity of 5.32% and a net margin of 12.36%. As a group, sell-side analysts predict that TFS Financial Corporation will post 0.36 EPS for the current fiscal year.

TFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 9th will be issued a $0.3175 dividend. The ex-dividend date is Wednesday, September 9th. This is a positive change from TFS Financial's previous quarterly dividend of $0.28. This represents a $1.27 dividend on an annualized basis and a yield of 7.2%. TFS Financial's dividend payout ratio (DPR) is currently 313.89%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $18.00 target price (up from $16.00) on shares of TFS Financial in a report on Monday, August 3rd. Wall Street Zen upgraded shares of TFS Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Piper Sandler lifted their price objective on shares of TFS Financial from $16.00 to $20.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of TFS Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $19.00.

TFS Financial Profile

TFS Financial Corporation is a bank holding company for TFS Capital Bank, headquartered in Austin, Texas. The company offers commercial banking and specialty finance solutions designed to meet the unique needs of small and mid-sized businesses. Through its bank charter, TFS Financial provides a full suite of deposit products alongside a range of lending options tailored to growing enterprises.

The bank's lending portfolio includes equipment financing, working capital lines of credit, and term loans structured to support capital expenditures and operational needs.

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