Bank of America Corp DE grew its stake in shares of TFS Financial Corporation (NASDAQ:TFSL - Free Report) by 27.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,009,309 shares of the bank's stock after acquiring an additional 215,491 shares during the period. Bank of America Corp DE owned about 0.36% of TFS Financial worth $14,181,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings 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 purchasing an additional 841 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of TFS Financial by 1,237.7% in the 1st quarter. Royal Bank of Canada now owns 9,658 shares of the bank's stock valued at $136,000 after purchasing an additional 8,936 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in TFS Financial by 11.3% in the first quarter. The Manufacturers Life Insurance Company now owns 14,245 shares of the bank's stock worth $200,000 after purchasing an additional 1,451 shares in the last quarter. Quantinno Capital Management LP increased its position in TFS Financial by 53.0% during the first quarter. Quantinno Capital Management LP now owns 405,322 shares of the bank's stock worth $5,695,000 after buying an additional 140,376 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. acquired a new position in TFS Financial during the first quarter worth $155,000. 9.81% of the stock is currently owned by institutional investors and hedge funds.
TFS Financial Price Performance
Shares of TFSL stock opened at $17.64 on Friday. TFS Financial Corporation has a 12 month low of $12.53 and a 12 month high of $19.49. The company has a market capitalization of $4.95 billion, a P/E ratio of 49.00 and a beta of 0.70. The stock has a 50 day moving average of $17.65 and a two-hundred day moving average of $15.80. The company has a current ratio of 1.67, a quick ratio of 1.66 and a debt-to-equity ratio of 2.97.
TFS Financial (NASDAQ:TFSL - Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $89.27 million for the quarter, compared to analyst estimates of $87.05 million. TFS Financial had a net margin of 12.36% and a return on equity of 5.32%. As a group, equities analysts expect that TFS Financial Corporation will post 0.36 EPS for the current year.
TFS Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 10th were paid a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 6.4%. The ex-dividend date was Wednesday, June 10th. TFS Financial's dividend payout ratio is currently 313.89%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $18.00 price target (up from $16.00) on shares of TFS Financial in a research report on Monday, August 3rd. Piper Sandler raised their price objective on TFS Financial from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Wall Street Zen upgraded TFS Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Weiss Ratings raised TFS Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $19.00.
Read Our Latest Stock Analysis on TFSL
Insiders Place Their Bets
In other news, CFO Meredith S. Weil sold 4,316 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $16.80, for a total value of $72,508.80. Following the sale, the chief financial officer owned 38,480 shares of the company's stock, valued at approximately $646,464. This represents a 10.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gavin B. Stefanski sold 6,500 shares of the company's stock in a transaction dated Wednesday, August 5th. The stock was 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 in the company, valued at $353,531.10. This represents a 25.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,921 shares of company stock worth $257,094 over the last three months. 0.72% of the stock is currently owned by corporate insiders.
TFS Financial Profile
(
Free Report)
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.
Further Reading
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