In a recent transaction filed with the Securities and Exchange Commission, Barbara J. Anderson, a director at TFS Financial Corp (NASDAQ:TFSL), sold 13,400 shares of the company's common stock. The shares were sold at a price of $13.14, amounting to a total value of $176,076.
The transaction took place on May 3, 2024, and was reported in a Form 4 filing with the SEC. Following the sale, Anderson's direct ownership in TFS Financial Corp decreased to 1,700 shares of common stock.
In addition to the sale, the filing also disclosed information regarding restricted stock units (RSUs). According to the footnotes in the filing, Anderson received a grant of 3,900 RSUs on February 22, 2024, which are set to fully vest on February 21, 2025. Another grant of 50,000 RSUs was received on December 16, 2021, with a vesting schedule of 20% per year starting from December 10, 2022.
Restricted stock units represent a contingent right to receive shares of common stock at no cost to the holder, provided certain conditions such as vesting requirements are met. These units also carry dividend equivalent rights, which entitle the holder to a cash payment equivalent to the dividend paid on common stock.
The sale by Anderson is a notable transaction for investors tracking insider activity as it reflects a significant change in an insider's holdings of company stock. TFS Financial Corp, based in Cleveland, Ohio, is a federally chartered savings institution.
Investors often monitor insider transactions as they can provide insights into the perspectives of those with in-depth knowledge of the company. However, it's important to consider that such transactions can occur for a variety of reasons and may not always indicate the insider's view on the company's future performance.
Shares of TFS Financial Corp are publicly traded on the NASDAQ under the ticker symbol TFSL. The company's business address and the mailing address for Anderson are both located at 7007 Broadway Avenue, Cleveland, Ohio.
InvestingPro Insights
Following the recent insider transaction at TFS Financial Corp (NASDAQ:TFSL), the market has been observing the company's financial health and performance metrics with keen interest. According to real-time data from InvestingPro, TFS Financial Corp currently boasts a market capitalization of $3.67 billion. Despite a slight revenue decline over the last twelve months as of Q2 2024, with a -1.84% change, the company has shown a quarterly revenue growth of 3.31% in Q2 2024, indicating potential for short-term improvement.
InvestingPro Tips highlight a high shareholder yield and a significant return over the last week for TFSL. This suggests that investors have been rewarded recently, which may be of particular interest following insider sales. Notably, the company has maintained dividend payments for 11 consecutive years, with a dividend yield of 8.51% as of the last recorded date, which is a compelling factor for income-focused investors.
The company is trading at a high earnings multiple with a P/E ratio of 47.62, which could indicate that the market has high expectations for future earnings growth. This is reinforced by analysts' predictions that the company will be profitable this year, a sentiment that is supported by TFSL's profitability over the last twelve months.
For investors seeking more in-depth analysis and additional insights into TFS Financial Corp, there are further InvestingPro Tips available, including observations on the company's gross profit margins and earnings multiples. To access these valuable tips and enhance your investment strategy, visit https://www.investing.com/pro/TFSL and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are 8 additional InvestingPro Tips listed for TFSL, providing a comprehensive overview of the company's financial standing and market potential.
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