In a recent transaction on September 10, Ashley H. Williams, a director at TFS Financial Corp (NASDAQ:TFSL), sold 20,000 shares of company stock at an average price of $12.82 per share, amounting to a total sale of $256,400. This transaction was disclosed in a filing with the Securities and Exchange Commission.
Following the sale, Williams' direct and indirect ownership includes 10,660 shares held directly and 37,150 shares held indirectly through a trust beneficiary. Additionally, Williams indirectly owns 40,000 shares as a trustee for a daughter's trust. The sale has adjusted the beneficial ownership of shares from direct to indirect, as noted in the footnotes of the filing, reflecting transfers of shares to the revocable trust for which Ms. Stefanski is the beneficiary.
The disclosure also mentioned a grant of 5,850 Restricted Stock Units (RSUs) to the reporting person on February 22, 2024, which will fully vest on February 21, 2025. These RSUs represent a contingent right to receive shares of TFS Financial Corporation common stock and come with dividend equivalent rights.
Investors and market watchers often look to insider transactions as a signal of executives’ confidence in the company’s prospects, making the details of such sales and acquisitions a point of interest. The reported transactions provide a snapshot of insider activity and holdings, which can be relevant for shareholders and potential investors in assessing the stock's performance and management's stake in the company.
In other recent news, insurance broker TWFG, also known as Woodlands Financial Group, made a strong debut on the Nasdaq, selling 11 million shares and raising a total of $187 million. RenaissanceRe (NYSE:RNR), a reinsurer listed on the New York Stock Exchange, backs this financial move. The company operates across 41 states and the District of Columbia, cooperating with over 300 insurance carriers. TWFG's revenue is significantly supported by auto insurer Progressive and Travelers (NYSE:TRV), a leading figure in the insurance industry.
On another note, TFS Financial Corporation announced that its mutual holding company, Third Federal Savings and Loan Association of Cleveland, received approval from its members to waive dividends aggregating up to $1.13 per share over the next twelve months. The company's latest earnings report revealed a per-share profit of $0.07, exceeding expectations due to a robust net interest income. Analysts at Keefe Bruyette & Woods adjusted their financial outlook on the company, reducing the price target from $15.00 to $14.00, while maintaining its Market Perform rating. They also revised their earnings estimates for fiscal years 2024 and 2025 to $0.26 per share. These are among the recent developments for both companies.
InvestingPro Insights
TFS Financial Corp (NASDAQ:TFSL), a company known for its strong shareholder returns, has recently been in the spotlight due to insider transactions. The director's sale of shares came at a time when the company is trading at a high earnings multiple with a P/E ratio of 45.17, according to the latest data. This could indicate that the stock is valued more for its earnings growth potential than for its current earnings.
For investors seeking income, one of the key InvestingPro Tips highlights TFSL's commitment to returning value to shareholders through dividends. The company has a notable dividend yield of 8.82%, which is particularly attractive for dividend investors. Additionally, TFSL has a track record of maintaining dividend payments for 11 consecutive years, underscoring its reliability in providing shareholder income.
When it comes to financials, TFSL has shown a modest revenue growth of 1.87% in the last quarter, as per the InvestingPro Data. While the revenue growth on a yearly basis has slightly declined by -1.91%, the company's operating income margin remains strong at 37.78% for the last twelve months as of Q3 2024. This suggests that the company is effective in converting its revenues into actual profit.
For those interested in further analysis, there are additional InvestingPro Tips available that provide deeper insights into TFSL's financial health and market position. Currently, InvestingPro lists a total of 7 tips for TFSL, offering a comprehensive view for potential investors.
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