Key Points
- Insider sale: Bradley Stefanski sold 10,000 TFS Financial shares for $169,400, reducing his direct ownership by 20.53% to 38,720 shares.
- Dividend increase: TFS Financial raised its quarterly dividend to $0.3175, equivalent to $1.27 annually and a 7.4% yield, though its payout ratio is a high 352.78%.
- Analyst outlook remains neutral: Analysts lifted price targets, including a consensus target of $19, but the stock retains a “Hold” consensus rating. Shares recently traded near $17.07.
TFS Financial Corporation (NASDAQ:TFSL - Get Free Report) insider Bradley Stefanski sold 10,000 shares of TFS Financial stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $16.94, for a total value of $169,400.00. Following the transaction, the insider directly owned 38,720 shares in the company, valued at approximately $655,916.80. The trade was a 20.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
TFS Financial Trading Down 0.2%
Shares of NASDAQ:TFSL opened at $17.07 on Wednesday. The stock has a 50 day moving average of $17.74 and a 200 day moving average of $16.13. The company has a market cap of $4.79 billion, a PE ratio of 47.42 and a beta of 0.69. TFS Financial Corporation has a 12-month low of $12.53 and a 12-month high of $19.49. 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 released its earnings results on Thursday, July 30th. The bank reported $0.11 EPS 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 company had revenue of $89.27 million for the quarter, compared to analysts' expectations of $87.05 million. As a group, equities research analysts expect that TFS Financial Corporation will post 0.36 EPS for the current year.
TFS Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 9th will be paid a $0.3175 dividend. This represents a $1.27 dividend on an annualized basis and a dividend yield of 7.4%. This is a boost from TFS Financial's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, September 9th. TFS Financial's dividend payout ratio is currently 352.78%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on TFSL shares. Piper Sandler lifted their target price on shares of TFS Financial from $16.00 to $20.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $18.00 price target (up from $16.00) on shares of TFS Financial in a research note on Monday, August 3rd. Weiss Ratings raised TFS Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded TFS Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.00.
Read Our Latest Report on TFS Financial
Institutional Trading of TFS Financial
A number of institutional investors and hedge funds have recently bought and sold shares of TFSL. Engineers Gate Manager LP bought a new position in TFS Financial during the second quarter valued at approximately $358,000. Squarepoint Ops LLC grew its holdings in TFS Financial by 50.2% during the 2nd quarter. Squarepoint Ops LLC now owns 674,075 shares of the bank's stock valued at $11,945,000 after buying an additional 225,361 shares in the last quarter. Corient Private Wealth LP increased its stake in TFS Financial by 4.1% in the 2nd quarter. Corient Private Wealth LP now owns 109,494 shares of the bank's stock worth $1,940,000 after acquiring an additional 4,350 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in TFS Financial in the 2nd quarter worth approximately $35,000. Finally, Archer Investment Corp purchased a new stake in shares of TFS Financial during the 2nd quarter worth approximately $119,000. 9.81% of the stock is currently owned by institutional investors.
About TFS Financial
(
Get Free Report)
TFS Financial Corporation is the holding company for Third Federal Savings and Loan Association of Cleveland, a federally chartered savings institution headquartered in Cleveland, Ohio. Third Federal serves consumers primarily through retail banking and residential lending activities.
The company offers deposit products such as savings accounts, checking accounts, certificates of deposit and money market accounts. Its lending portfolio is focused mainly on residential real estate, including home purchase and refinance mortgages, home equity loans and lines of credit, and other loans secured by residential property.
Third Federal operates branches in Ohio and Florida and also provides mortgage lending services through additional channels.
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