The Manufacturers Life Insurance Company Takes Position in TFS Financial Corporation $TFSL

The Manufacturers Life Insurance Company acquired a new position in TFS Financial Corporation (NASDAQ:TFSL) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 30,761 shares of the bank’s stock, valued at approximately $545,000.

A number of other institutional investors have also recently bought and sold shares of the business. Wells Fargo & Company MN grew its stake in TFS Financial by 10.1% during the 4th quarter. Wells Fargo & Company MN now owns 8,419 shares of the bank’s stock valued at $113,000 after acquiring an additional 770 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of TFS Financial by 1.3% during the second quarter. Legal & General Group Plc now owns 60,358 shares of the bank’s stock worth $782,000 after purchasing an additional 789 shares during the period. EverSource Wealth Advisors LLC grew its position in TFS Financial by 45.1% during 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. Kestra Investment Management LLC increased its stake in TFS Financial by 0.5% in the 4th quarter. Kestra Investment Management LLC now owns 214,499 shares of the bank’s stock valued at $2,870,000 after buying an additional 1,017 shares during the period. Finally, Osaic Holdings Inc. lifted its position in TFS Financial by 5.7% in the 2nd quarter. Osaic Holdings Inc. now owns 19,762 shares of the bank’s stock worth $256,000 after buying an additional 1,057 shares in the last quarter. 9.81% of the stock is currently owned by institutional investors and hedge funds.

TFS Financial Price Performance

TFS Financial stock opened at $17.57 on Monday. 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 Corporation has a 1-year low of $12.53 and a 1-year high of $19.49. The firm’s fifty day simple moving average is $17.82 and its 200-day simple moving average is $16.01. The company has a market capitalization of $4.93 billion, a P/E ratio of 48.81 and a beta of 0.69.

TFS Financial (NASDAQ:TFSL) last posted its earnings results on Thursday, July 30th. The bank reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. TFS Financial had a net margin of 12.36% and a return on equity of 5.32%. The firm had revenue of $89.27 million for the quarter, compared to the consensus estimate of $87.05 million. Sell-side analysts forecast that TFS Financial Corporation will post 0.36 earnings per share for the current fiscal year.

TFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors 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 7.2%. The ex-dividend date of this dividend is Wednesday, September 9th. This is a positive change from TFS Financial’s previous quarterly dividend of $0.28. TFS Financial’s dividend payout ratio (DPR) is 313.89%.

Insider Activity at TFS Financial

In related news, CFO Meredith S. Weil sold 4,316 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $16.80, for a total transaction of $72,508.80. Following the completion of the sale, the chief financial officer directly 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 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 on Wednesday, August 5th. The shares were 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. The trade was a 25.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 11,416 shares of company stock valued at $202,584. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TFSL. 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. Wall Street Zen upgraded TFS Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $18.00 price objective (up from $16.00) on shares of TFS Financial in a research report on Monday, August 3rd. 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, TFS Financial has a consensus rating of “Hold” and a consensus price target of $19.00.

About TFS Financial

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.