Readystate Asset Management LP Invests $866,000 in TFS Financial Co. (NASDAQ:TFSL)

Readystate Asset Management LP bought a new position in TFS Financial Co. (NASDAQ:TFSL) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor bought 67,372 shares of the bank’s stock, valued at approximately $866,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TFSL. Kestra Investment Management LLC purchased a new stake in shares of TFS Financial in the 3rd quarter worth about $1,693,000. Dimensional Fund Advisors LP raised its position in shares of TFS Financial by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,476,938 shares of the bank’s stock worth $31,258,000 after purchasing an additional 122,562 shares during the last quarter. Atom Investors LP purchased a new position in shares of TFS Financial in the 3rd quarter worth about $940,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of TFS Financial in the 2nd quarter worth about $915,000. Finally, Quest Partners LLC purchased a new position in shares of TFS Financial in the 3rd quarter worth about $668,000. 9.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price target on shares of TFS Financial in a research report on Friday, November 22nd.

TFS Financial Stock Down 0.2 %

Shares of TFS Financial stock opened at $13.57 on Thursday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 2.57. TFS Financial Co. has a twelve month low of $11.70 and a twelve month high of $15.25. The company has a market cap of $3.81 billion, a price-to-earnings ratio of 50.26 and a beta of 0.69. The company’s 50 day moving average is $13.39 and its 200 day moving average is $13.15.

TFS Financial (NASDAQ:TFSL) last released its quarterly earnings results on Wednesday, October 30th. The bank reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $194.94 million for the quarter. TFS Financial had a return on equity of 4.22% and a net margin of 10.49%. During the same quarter last year, the business earned $0.07 earnings per share. Research analysts anticipate that TFS Financial Co. will post 0.26 EPS for the current year.

TFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a $0.2825 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.13 annualized dividend and a yield of 8.33%. TFS Financial’s payout ratio is 418.53%.

Insiders Place Their Bets

In other TFS Financial news, CEO Marc A. Stefanski sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $12.82, for a total value of $256,400.00. Following the transaction, the chief executive officer now directly owns 37,150 shares of the company’s stock, valued at approximately $476,263. This trade represents a 35.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.13% 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.