Alps Advisors Inc. bought a new stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,900 shares of the bank's stock, valued at approximately $358,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc increased its holdings in WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock worth $28,000 after buying an additional 252 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after purchasing an additional 550 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of WSFS Financial during the 4th quarter worth approximately $32,000. VSM Wealth Advisory LLC bought a new stake in shares of WSFS Financial in the 4th quarter worth approximately $40,000. Finally, AlphaQuest LLC purchased a new position in WSFS Financial in the fourth quarter valued at approximately $84,000. 88.49% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on WSFS shares. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods cut their price objective 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. Finally, Stephens reissued an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, WSFS Financial has an average rating of "Hold" and an average price target of $62.75.
Read Our Latest Report on WSFS Financial
WSFS Financial Price Performance
NASDAQ WSFS traded up $0.43 on Wednesday, hitting $57.59. The stock had a trading volume of 268,345 shares, compared to its average volume of 313,618. The firm has a 50-day moving average of $54.47 and a 200-day moving average of $53.21. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 12.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. 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 posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. WSFS Financial had a return on equity of 10.06% and a net margin of 18.86%. The company had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. During the same quarter last year, the company earned $1.11 earnings per share. The firm's quarterly revenue was up 1.7% on a year-over-year basis. Equities analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current year.
WSFS Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.17 per share. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. WSFS Financial's payout ratio is presently 15.28%.
WSFS Financial Profile
(
Free Report)
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.
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