Wedge Capital Management L L P NC lowered its position in WSFS Financial Co. (NASDAQ:WSFS) by 3.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354,884 shares of the bank’s stock after selling 13,955 shares during the period. Wedge Capital Management L L P NC’s holdings in WSFS Financial were worth $16,733,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in WSFS Financial by 10.3% in the first quarter. Principal Financial Group Inc. now owns 11,935 shares of the bank’s stock valued at $572,000 after buying an additional 1,113 shares during the last quarter. Rothschild Asset Management Inc. boosted its position in WSFS Financial by 0.9% in the second quarter. Rothschild Asset Management Inc. now owns 262,575 shares of the bank’s stock valued at $13,995,000 after buying an additional 2,252 shares during the last quarter. BlueMountain Capital Management LLC boosted its position in WSFS Financial by 21.0% in the second quarter. BlueMountain Capital Management LLC now owns 15,928 shares of the bank’s stock valued at $849,000 after buying an additional 2,759 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in WSFS Financial in the third quarter valued at approximately $157,000. Finally, Congress Asset Management Co. MA boosted its position in WSFS Financial by 10.0% in the third quarter. Congress Asset Management Co. MA now owns 38,138 shares of the bank’s stock valued at $1,798,000 after buying an additional 3,455 shares during the last quarter. Hedge funds and other institutional investors own 78.90% of the company’s stock.
Shares of NASDAQ:WSFS opened at $42.16 on Tuesday. WSFS Financial Co. has a 12-month low of $40.04 and a 12-month high of $57.70. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 1.00 and a beta of 1.14. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.03 and a quick ratio of 1.03.
WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, October 22nd. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.04. WSFS Financial had a return on equity of 14.37% and a net margin of 23.83%. The company had revenue of $105.00 million during the quarter, compared to the consensus estimate of $100.42 million. On average, sell-side analysts anticipate that WSFS Financial Co. will post 3.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, November 5th. WSFS Financial’s payout ratio is 17.19%.
WSFS has been the subject of a number of analyst reports. BidaskClub downgraded WSFS Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. ValuEngine downgraded WSFS Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Stephens reissued a “buy” rating and issued a $58.00 price target on shares of WSFS Financial in a report on Monday, August 13th. Sandler O’Neill reissued a “buy” rating and issued a $63.00 price target on shares of WSFS Financial in a report on Sunday, August 12th. Finally, Keefe, Bruyette & Woods raised WSFS Financial from a “market perform” rating to an “outperform” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. WSFS Financial has a consensus rating of “Hold” and a consensus price target of $59.67.
In other news, EVP Richard Wright sold 3,096 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $50.36, for a total transaction of $155,914.56. Following the completion of the transaction, the executive vice president now directly owns 45,265 shares of the company’s stock, valued at approximately $2,279,545.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark A. Turner sold 12,995 shares of the company’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $47.59, for a total value of $618,432.05. Following the transaction, the chief executive officer now directly owns 144,631 shares of the company’s stock, valued at $6,882,989.29. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 142,614 shares of company stock valued at $7,169,864. Corporate insiders own 5.73% of the company’s stock.
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WSFS Financial Company Profile
WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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