Boston Partners Makes New Investment in WSFS Financial Corporation $WSFS

Key Points

• Boston Partners has acquired 343,572 shares of WSFS Financial Corporation valued at approximately $17.67 million, representing a 0.61% ownership stake.
• WSFS Financial's recent earnings report showed earnings per share of $1.27, surpassing estimates, with revenue of $267.50 million for the quarter.
• A quarterly dividend of $0.17 has been declared, payable on August 22nd, indicating a yield of 1.2% and a low dividend payout ratio of just 14.91%.

Boston Partners acquired a new position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 343,572 shares of the bank's stock, valued at approximately $17,668,000. Boston Partners owned 0.61% of WSFS Financial as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. T. Rowe Price Investment Management Inc. grew its holdings in WSFS Financial by 0.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,313,175 shares of the bank's stock worth $122,899,000 after purchasing an additional 19,895 shares during the period. Invesco Ltd. grew its holdings in WSFS Financial by 1.6% in the first quarter. Invesco Ltd. now owns 969,476 shares of the bank's stock worth $50,287,000 after purchasing an additional 15,281 shares during the period. Cooke & Bieler LP grew its holdings in WSFS Financial by 14.0% in the first quarter. Cooke & Bieler LP now owns 892,286 shares of the bank's stock worth $46,283,000 after purchasing an additional 109,519 shares during the period. Northern Trust Corp grew its holdings in WSFS Financial by 1.2% in the fourth quarter. Northern Trust Corp now owns 809,334 shares of the bank's stock worth $43,000,000 after purchasing an additional 9,542 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in WSFS Financial by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 748,085 shares of the bank's stock worth $38,803,000 after purchasing an additional 7,501 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Performance

WSFS Financial stock traded up $0.0210 during midday trading on Thursday, reaching $55.7810. 27,721 shares of the company traded hands, compared to its average volume of 330,804. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.24 and a beta of 0.89. The business has a 50 day moving average of $55.64 and a two-hundred day moving average of $53.61. WSFS Financial Corporation has a 12 month low of $42.44 and a 12 month high of $62.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The business had revenue of $267.50 million for the quarter, compared to the consensus estimate of $221.93 million. During the same period last year, the firm earned $1.08 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts predict that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given a $0.17 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.2%. WSFS Financial's dividend payout ratio (DPR) is presently 14.91%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WSFS. Stephens reiterated an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research note 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 on the stock in a research note on Monday, April 28th. DA Davidson upped their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.00.

About WSFS Financial

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.