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In a recent transaction, Barbara J. Anderson, a director at TFS Financial Corp (NASDAQ:TFSL), sold 1,500 shares of the company's common stock. The shares were sold on November 15 at a price of $14.30 each, totaling $21,450. Following this sale, Anderson holds 200 shares directly.
In addition to the stock sale, Anderson's holdings include 39,000 Restricted Stock Units (RSUs). These RSUs are tied to future vesting dates, with 3,900 units set to fully vest on February 21, 2025, and another 30,000 units gradually vesting over a five-year period that began in December 2022. Each RSU represents a contingent right to receive one share of TFS Financial common stock and includes dividend equivalent rights.
In other recent news, TFS Financial Corp has broadened its board of directors from eleven to twelve members, a decision that came into effect following an amendment to the company's Bylaws. This change was accompanied by the appointment of Terrence L. Bauer, a seasoned executive with over three decades of leadership experience, as a new board member. Bauer, currently serving as the CEO of Specialdocs Consultants since 2016, is expected to bring his strategic planning and growth driving skills to TFS Financial.
The company has affirmed that there are no undisclosed arrangements or transactions involving Bauer that would require additional disclosure under Securities and Exchange Commission (SEC) regulations. As a non-employee director, Bauer will receive the standard compensation as outlined in the company's proxy statement for the 2024 Annual Meeting of Stockholders. He will also be eligible for awards under the company's Amended and Restated 2008 Equity Incentive Plan.
The induction of Bauer into the board is a part of TFS Financial's ongoing governance and leadership strategy. These are recent developments that have taken place within the company.
InvestingPro Insights
As we examine Barbara J. Anderson's recent stock sale at TFS Financial Corp (NASDAQ:TFSL), it's crucial to consider the broader financial context of the company. According to InvestingPro data, TFS Financial currently has a market capitalization of $3.97 billion and trades at a P/E ratio of 49.72, which is considered high relative to its near-term earnings growth potential.
One of the standout features of TFS Financial is its dividend policy. The company boasts a significant dividend yield of 7.93%, which aligns with an InvestingPro Tip highlighting that TFSL "pays a significant dividend to shareholders." This attractive yield may explain why investors, including directors like Anderson, maintain positions in the stock despite selling portions of their holdings. Furthermore, TFS Financial has maintained dividend payments for 11 consecutive years, demonstrating a commitment to shareholder returns.
While the company's high dividend yield is appealing, investors should note that TFSL is trading at a high earnings multiple, as indicated by another InvestingPro Tip. This valuation metric, coupled with the company's modest revenue of $304.66 million over the last twelve months and a slight revenue decline of 0.6%, suggests that investors are paying a premium for the stock's income potential rather than its growth prospects.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights on TFS Financial. In fact, there are 5 more InvestingPro Tips available for TFSL, providing a deeper understanding of the company's financial health and market position.
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