TFS Financial Corp
) achieved a new 52-week high, touching $13.03 on April 8.
However, the stock closed the session at $12.96, reflecting a
solid year-to-date return of 6.9%. The trading volume for the
session was 392,955 shares.
TFS Financial currently has a Zacks Rank #2 (Buy), indicating
that the stock still has potential to move higher. The company
has delivered positive earnings surprises in 2 of the trailing 4
quarters with an average beat of 50.0% for the year. Further, the
year-over-year earnings growth estimate for the company now
stands at 16.7% for 2014.
The recent termination of the Memoranda of Understanding (MOU),
authorization of stock repurchase program, a possible resumption
of dividend and decent first-quarter fiscal 2014 results
primarily drove the stock price to reach this level.
On April 2, 2014, TFS Financial received a written notification
stating that the MOU imposed by the Office of Thrift Supervision,
which was effective from Feb 7, 2011, had been terminated by the
Federal Reserve Bank of Cleveland. This removed restrictions on
TFS Financial's ability to buy back its own shares and pay
dividend to shareholders.
Following the news, the company announced buyback
authorization of up to 5 million common shares. Also, the company
is now considering resuming its dividend payout.
BANNER CORP (BANR): Free Stock Analysis
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TFS FINANCIAL (TFSL): Free Stock Analysis
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On Jan 30, 2014, TFS Financial came out with first-quarter fiscal
2014 earnings (ended Dec 31) of 5 cents per share, which were in
line with Zacks Consensus Estimate. The reported figure was
higher than 4 cents earned in the prior-year quarter.
Results were aided by higher net income driven by continuous fall
in provision for loan losses, strong capital ratios and improved
However, a slight rise in the operating expenses and decrease in
both total revenue and net interest income were headwinds.
Moreover, non-interest income declined in the last reported
Some stocks that are worth-considering in this space include
Cape Bancorp, Inc.
Capitol Federal Financial, Inc.
). While Banner sports a Zacks Rank #1 (Strong Buy), Cape Bancorp
and Capitol Federal Financial carry a Zacks Rank #2 (Buy).