Advantage Alpha Capital Partners LP Cuts Position in WSFS Financial Corporation $WSFS

Key Points

• Advantage Alpha Capital Partners LP reduced its stake in WSFS Financial Corporation by 60.8%, selling 6,474 shares and ending up with 4,173 shares valued at approximately $216,000.
• WSFS Financial reported quarterly earnings of $1.27 EPS, exceeding estimates, with revenues reaching $267.5 million, marking a year-over-year growth of 0.6%.
• The company announced a quarterly dividend of $0.17 per share with a yield of 1.2%, reflecting a payout ratio of 14.91%.

Advantage Alpha Capital Partners LP trimmed its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 60.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,173 shares of the bank's stock after selling 6,474 shares during the quarter. Advantage Alpha Capital Partners LP's holdings in WSFS Financial were worth $216,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WSFS. T. Rowe Price Investment Management Inc. increased its holdings in WSFS Financial by 0.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,320,766 shares of the bank's stock worth $120,379,000 after acquiring an additional 7,591 shares in the last quarter. Invesco Ltd. boosted its stake in WSFS Financial by 1.6% during the 1st 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 last quarter. Cooke & Bieler LP boosted its stake in WSFS Financial by 14.0% during the 1st 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 last quarter. Northern Trust Corp boosted its stake in WSFS Financial by 1.2% during the 4th 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 last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in WSFS Financial by 1.0% during the 1st 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 last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Trading Down 1.1%

NASDAQ:WSFS traded down $0.68 on Thursday, reaching $58.50. 110,443 shares of the company's stock were exchanged, compared to its average volume of 329,844. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 12.84 and a beta of 0.89. The business has a fifty day moving average of $56.24 and a 200-day moving average of $53.61. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $62.75.

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

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 8th. WSFS Financial's dividend payout ratio is presently 14.91%.

Wall Street Analysts Forecast Growth

WSFS has been the topic of several recent research reports. Wall Street Zen cut shares of WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. DA Davidson boosted their price target on shares of WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.

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. 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.