TFS Financial (NASDAQ:TFSL) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of TFS Financial (NASDAQ:TFSLGet Rating) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. The brokerage currently has $17.00 target price on the bank’s stock.

According to Zacks, “TFS Financial Corporation is a federally chartered stock holding company, conducts its activities through its wholly owned subsidiaries. The line of business of the Company is retail consumer banking, mortgage lending, deposit gathering and other financial services. The Company’s operating subsidiaries include Third Federal Savings and Loan Association of Cleveland and Third Capital, Inc. Third Federal Savings and Loan Association offers various deposit accounts, including savings accounts, NOW accounts, certificates of deposit and individual retirement accounts, and other qualified plan accounts. Third Capital engages in net lease transactions of commercial buildings; maintains investments in private equity funds; provides escrow and settlement services; and reinsures private mortgage insurance on residential mortgage loans. The company is based in Cleveland, Ohio. “

Separately, StockNews.com began coverage on TFS Financial in a report on Thursday, March 31st. They set a hold rating for the company.

TFSL opened at $15.41 on Wednesday. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 64.21 and a beta of 0.46. The stock’s 50 day moving average price is $16.16 and its 200-day moving average price is $17.57. TFS Financial has a one year low of $14.58 and a one year high of $22.54. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.45 and a current ratio of 1.45.

TFS Financial (NASDAQ:TFSLGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The bank reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. TFS Financial had a return on equity of 3.75% and a net margin of 15.97%. As a group, analysts predict that TFS Financial will post 0.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 22nd. Stockholders of record on Tuesday, March 8th were issued a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a dividend yield of 7.33%. The ex-dividend date of this dividend was Monday, March 7th. This is a positive change from TFS Financial’s previous quarterly dividend of $0.28. TFS Financial’s dividend payout ratio is currently 470.85%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TFSL. Morgan Stanley increased its position in shares of TFS Financial by 9.1% in the 2nd quarter. Morgan Stanley now owns 129,147 shares of the bank’s stock valued at $2,621,000 after acquiring an additional 10,749 shares during the period. Treasurer of the State of North Carolina increased its position in shares of TFS Financial by 3.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 17,726 shares of the bank’s stock valued at $338,000 after acquiring an additional 589 shares during the period. Advisor Group Holdings Inc. increased its position in shares of TFS Financial by 5.6% in the 3rd quarter. Advisor Group Holdings Inc. now owns 9,922 shares of the bank’s stock valued at $188,000 after acquiring an additional 527 shares during the period. Meeder Asset Management Inc. increased its position in shares of TFS Financial by 28.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,597 shares of the bank’s stock valued at $145,000 after acquiring an additional 1,691 shares during the period. Finally, JustInvest LLC acquired a new position in shares of TFS Financial in the 3rd quarter valued at $256,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

TFS Financial Company Profile (Get Rating)

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.

Further Reading

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