TFS Financial Q3 Profit Tops Estimate

(RTTNews) - TFS Financial Corp. (TFSL) reported net income for the third quarter of $17.3 million or $0.06 per share, compared to $17.6 million or $0.06 per share for the year-ago quarter.

Net interest income for the third quarter declined to $67.6 million from $67.9 million a year ago. Non-interest income for the third quarter grew to $6.1 million from $5.7 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.05 per share on revenue of $68.12 million for the third quarter. Analysts' estimates typically exclude special items.

TFS Financial also said that its Board of Directors has approved the company's seventh stock repurchase program, which authorizes the repurchase of up to 10 million shares of the company's outstanding common stock.

The company's sixth repurchase program, which authorized the repurchase of 10 million shares and began September 17, 2014, is expected to be completed soon. Currently over 9.8 million shares have been repurchased under that plan, the company said.