BlackRock Inc. Acquires New Holdings in TFS Financial Corporation $TFSL

Key Points

• BlackRock acquired 3.92 million TFS Financial shares worth approximately $69.4 million, giving it a 1.40% stake. Institutional investors collectively own 9.81% of the company.
• TFS Financial beat quarterly earnings expectations, reporting $0.11 per share versus the $0.08 consensus, with revenue of $89.27 million. Analysts maintain a consensus “Hold” rating and a $19.00 price target.
• The company raised its quarterly dividend to $0.3175 per share, equivalent to a 7.2% annualized yield, although its payout ratio is high at 313.89%; insiders sold 14,921 shares worth $257,094 over the past three months.

BlackRock Inc. purchased a new stake in TFS Financial Corporation (NASDAQ:TFSL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,916,394 shares of the bank's stock, valued at approximately $69,398,000. BlackRock Inc. owned 1.40% of TFS Financial at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in TFS Financial in the 4th quarter valued at about $28,000. Comerica Bank lifted its holdings in shares of TFS Financial by 263.8% during the fourth quarter. Comerica Bank now owns 2,445 shares of the bank's stock worth $33,000 after buying an additional 1,773 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in TFS Financial in the 2nd quarter worth about $44,000. EverSource Wealth Advisors LLC boosted its stake in shares of TFS Financial by 45.1% in the first 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 during the period. Finally, Danske Bank A S acquired a new stake in TFS Financial during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 9.81% of the company's stock.

Insider Buying and Selling at TFS Financial

In other news, CFO Meredith S. Weil sold 4,316 shares of TFS Financial stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $16.80, for a total value of $72,508.80. Following the transaction, the chief financial officer owned 38,480 shares in the company, valued at approximately $646,464. The trade was a 10.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin B. Stefanski sold 6,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $18.35, for a total transaction of $119,275.00. Following the completion of the transaction, the insider owned 19,266 shares in the company, valued at $353,531.10. This represents a 25.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 14,921 shares of company stock valued at $257,094 over the last three months. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

TFS Financial Stock Performance

Shares of TFSL stock opened at $17.53 on Monday. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 48.70 and a beta of 0.70. TFS Financial Corporation has a 1 year low of $12.53 and a 1 year high of $19.49. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.67 and a quick ratio of 1.66. The company's fifty day simple moving average is $17.78 and its two-hundred day simple moving average is $15.92.

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

TFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 9th will be paid a $0.3175 dividend. This is an increase from TFS Financial's previous quarterly dividend of $0.28. This represents a $1.27 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Wednesday, September 9th. TFS Financial's payout ratio is currently 313.89%.

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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