Beneficial Bancorp Q2 Results Top Estimates

Beneficial Bancorp reported Q2 earnings of $0.13 per diluted share compared with an income of $0.04 per share a year ago, beating the $0.11 average estimate from analysts polled by Capital IQ.

Total revenue, comprised of net interest income and non-interest income, rose to $49.2 million from $44.8 million a year ago, but coming in above the $45.4-million consensus. “Overall economic activity slowed in our markets during the quarter, which reduced overall loan demand,” CEO Gerard Cuddy said. “However, our investments in our commercial lending team over the past few years drove strong commercial lending growth in the first half of the year.”

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