Keefe, Bruyette & Woods Reaffirms Market Perform Rating for TFS Financial (NASDAQ:TFSL)

Keefe, Bruyette & Woods reiterated their market perform rating on shares of TFS Financial (NASDAQ:TFSL) in a report published on Thursday morning, Benzinga reports. They currently have a $14.00 price objective on the bank’s stock, down from their previous price objective of $15.00.

Separately, Piper Sandler started coverage on shares of TFS Financial in a report on Friday, February 23rd. They issued a neutral rating and a $14.00 price target on the stock.

TFS Financial Trading Up 1.8 %

Shares of NASDAQ:TFSL opened at $13.28 on Thursday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 2.69. TFS Financial has a 52-week low of $10.97 and a 52-week high of $15.25. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 49.19 and a beta of 0.65. The business has a 50-day moving average price of $12.43 and a 200-day moving average price of $13.09.

TFS Financial (NASDAQ:TFSL) last posted its quarterly earnings results on Tuesday, April 30th. The bank reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $77.10 million during the quarter, compared to analyst estimates of $71.24 million. TFS Financial had a net margin of 11.08% and a return on equity of 4.15%.

TFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a dividend of $0.2825 per share. The ex-dividend date was Wednesday, March 6th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 8.51%. TFS Financial’s dividend payout ratio is currently 418.52%.

Insider Activity

In other TFS Financial news, Director Daniel F. Weir sold 10,500 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $12.90, for a total value of $135,450.00. Following the transaction, the director now owns 14,305 shares in the company, valued at approximately $184,534.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gavin B. Stefanski sold 3,449 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $12.74, for a total value of $43,940.26. Following the completion of the sale, the insider now owns 43,271 shares of the company’s stock, valued at $551,272.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Daniel F. Weir sold 10,500 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $12.90, for a total value of $135,450.00. Following the transaction, the director now directly owns 14,305 shares in the company, valued at approximately $184,534.50. The disclosure for this sale can be found here. Insiders have sold a total of 20,218 shares of company stock worth $259,383 over the last quarter. 1.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in TFS Financial by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,270,541 shares of the bank’s stock valued at $62,298,000 after buying an additional 31,130 shares during the period. Dimensional Fund Advisors LP increased its holdings in TFS Financial by 7.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,216,354 shares of the bank’s stock worth $32,560,000 after purchasing an additional 152,815 shares during the period. Bank of New York Mellon Corp raised its position in TFS Financial by 1.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,254,895 shares of the bank’s stock valued at $14,833,000 after purchasing an additional 23,321 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of TFS Financial by 4.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 975,030 shares of the bank’s stock valued at $11,525,000 after buying an additional 41,045 shares during the period. Finally, Brandywine Global Investment Management LLC grew its position in shares of TFS Financial by 35.3% during the third quarter. Brandywine Global Investment Management LLC now owns 433,756 shares of the bank’s stock worth $5,127,000 after buying an additional 113,191 shares in the last quarter. Hedge funds and other institutional investors own 9.81% of the company’s stock.

About TFS Financial

TFS Financial Corporation, through its subsidiaries, provides retail consumer banking services in the United States. Its deposit products include savings, money market, checking, individual retirement, and other qualified plan accounts, as well as certificates of deposit. 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.