Bank of America Corp DE Boosts Position in TFS Financial Co. (TFSL)

Bank of America Corp DE boosted its holdings in TFS Financial Co. (NASDAQ:TFSL) by 45.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 558,081 shares of the bank’s stock after buying an additional 175,106 shares during the period. Bank of America Corp DE’s holdings in TFS Financial were worth $8,801,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TFSL. Wells Fargo & Company MN raised its holdings in TFS Financial by 316.5% in the first quarter. Wells Fargo & Company MN now owns 215,597 shares of the bank’s stock valued at $3,167,000 after buying an additional 163,833 shares during the period. Russell Investments Group Ltd. raised its holdings in TFS Financial by 110.4% in the first quarter. Russell Investments Group Ltd. now owns 173,856 shares of the bank’s stock valued at $2,554,000 after buying an additional 91,224 shares during the period. First Trust Advisors LP raised its holdings in TFS Financial by 20.7% in the second quarter. First Trust Advisors LP now owns 397,489 shares of the bank’s stock valued at $6,268,000 after buying an additional 68,261 shares during the period. Sei Investments Co. raised its holdings in TFS Financial by 39.4% in the second quarter. Sei Investments Co. now owns 234,486 shares of the bank’s stock valued at $3,698,000 after buying an additional 66,274 shares during the period. Finally, Citadel Advisors LLC raised its holdings in TFS Financial by 65.3% in the second quarter. Citadel Advisors LLC now owns 160,793 shares of the bank’s stock valued at $2,536,000 after buying an additional 63,533 shares during the period. Hedge funds and other institutional investors own 10.90% of the company’s stock.

A number of analysts have recently issued reports on TFSL shares. BidaskClub upgraded shares of TFS Financial from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Sandler O’Neill started coverage on shares of TFS Financial in a research note on Friday, September 21st. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of TFS Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $18.00.

In other news, Chairman Marc A. Stefanski sold 2,570 shares of TFS Financial stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $15.44, for a total transaction of $39,680.80. Following the sale, the chairman now owns 87,311 shares in the company, valued at $1,348,081.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

TFSL opened at $14.74 on Friday. The company has a market cap of $4.21 billion, a PE ratio of 46.81 and a beta of 0.29. TFS Financial Co. has a 52-week low of $14.19 and a 52-week high of $16.62. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.54 and a current ratio of 1.54.

TFS Financial (NASDAQ:TFSL) last posted its quarterly earnings data on Monday, July 30th. The bank reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $77.46 million for the quarter, compared to analysts’ expectations of $76.80 million. TFS Financial had a net margin of 19.03% and a return on equity of 5.33%. Equities research analysts predict that TFS Financial Co. will post 0.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 24th. Stockholders of record on Monday, September 10th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, September 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 6.78%. This is a positive change from TFS Financial’s previous quarterly dividend of $0.17. TFS Financial’s dividend payout ratio (DPR) is currently 312.50%.

TFS Financial Company Profile

TFS Financial Corporation, through its subsidiaries, provides retail consumer banking services in the United States. Its deposit products include savings accounts, checking accounts, certificate of deposit accounts, individual retirement accounts, and other qualified plan accounts. The company also provides residential real estate mortgage loans, residential construction loans, and home equity loans and lines of credit, as well as purchase mortgages and first mortgage refinance loans.

Further Reading: Buyback

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Institutional Ownership by Quarter for TFS Financial (NASDAQ:TFSL)

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