Alps Advisors Inc. Purchases New Shares in WSFS Financial Corporation (NASDAQ:WSFS)

Alps Advisors Inc. acquired a new position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,900 shares of the bank's stock, valued at approximately $358,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of WSFS Financial by 309.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock valued at $89,674,000 after acquiring an additional 1,276,078 shares during the last quarter. Norges Bank bought a new stake in shares of WSFS Financial in the 4th quarter valued at approximately $32,775,000. Raymond James Financial Inc. bought a new stake in shares of WSFS Financial in the 4th quarter valued at approximately $18,167,000. GAMMA Investing LLC increased its holdings in shares of WSFS Financial by 7,004.2% in the 1st quarter. GAMMA Investing LLC now owns 105,711 shares of the bank's stock valued at $5,483,000 after acquiring an additional 104,223 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of WSFS Financial by 7.3% in the 4th quarter. Frontier Capital Management Co. LLC now owns 718,978 shares of the bank's stock valued at $38,199,000 after acquiring an additional 48,822 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WSFS shares. Stephens restated an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday, April 28th. Wall Street Zen lowered WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Finally, Keefe, Bruyette & Woods reduced their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $62.75.

WSFS Financial Stock Down 0.9%

NASDAQ:WSFS traded down $0.52 during trading hours on Friday, hitting $58.17. 299,841 shares of the company's stock traded hands, compared to its average volume of 309,773. The firm has a market cap of $3.30 billion, a P/E ratio of 13.07 and a beta of 0.87. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $62.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The stock's fifty day moving average price is $54.76 and its two-hundred day moving average price is $53.31.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 10.06% and a net margin of 18.86%. WSFS Financial's quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.11 earnings per share. On average, research analysts expect that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a $0.17 dividend. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Friday, May 9th. WSFS Financial's dividend payout ratio is presently 15.28%.

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.