WSFS Financial Co. (NASDAQ:WSFS) Shares Purchased by Comerica Bank

Comerica Bank grew its holdings in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 16.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 53,964 shares of the bank's stock after buying an additional 7,530 shares during the period. Comerica Bank owned 0.09% of WSFS Financial worth $2,867,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in WSFS. Farther Finance Advisors LLC lifted its position in WSFS Financial by 2,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock valued at $30,000 after purchasing an additional 550 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of WSFS Financial in the fourth quarter valued at approximately $32,000. VSM Wealth Advisory LLC acquired a new position in WSFS Financial during the fourth quarter worth $40,000. AlphaQuest LLC acquired a new stake in WSFS Financial in the fourth quarter valued at $84,000. Finally, Sterling Capital Management LLC boosted its position in shares of WSFS Financial by 804.4% during the 4th quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock worth $99,000 after purchasing an additional 1,657 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Price Performance

Shares of NASDAQ WSFS traded up $0.24 on Tuesday, hitting $55.17. The company's stock had a trading volume of 64,597 shares, compared to its average volume of 296,736. The stock has a 50 day moving average of $50.69 and a 200-day moving average of $53.78. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.48 and a beta of 0.86. WSFS Financial Co. has a 12-month low of $42.21 and a 12-month high of $62.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The firm had revenue of $256.11 million for the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. WSFS Financial's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, research analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio (DPR) is presently 15.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Stephens reiterated an "overweight" rating and issued a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their target price on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $62.75.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares of the company's stock, valued at $7,881,456. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by company insiders.

WSFS Financial 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. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.