WSFS Financial Corporation $WSFS Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. has reduced its stake in WSFS Financial Corporation by 5.9%, decreasing its holdings to approximately 851,215 shares, valued at $44.15 million.
• WSFS Financial recently reported earnings of $1.27 per share for the last quarter, exceeding forecasts, with revenues reaching $267.5 million, indicating a slight year-over-year growth.
• The company has declared a quarterly dividend of $0.17 per share, resulting in an annualized dividend yield of 1.2%, with a payout ratio of 14.91%.

American Century Companies Inc. reduced its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 851,215 shares of the bank's stock after selling 53,064 shares during the period. American Century Companies Inc. owned 1.50% of WSFS Financial worth $44,153,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Versant Capital Management Inc increased its position in WSFS Financial by 90.0% during the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock worth $28,000 after purchasing an additional 252 shares in the last quarter. CWM LLC increased its position in WSFS Financial by 72.7% during the 1st quarter. CWM LLC now owns 701 shares of the bank's stock worth $36,000 after purchasing an additional 295 shares in the last quarter. Sterling Capital Management LLC increased its position in 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. GAMMA Investing LLC increased its position in WSFS Financial by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock worth $106,000 after purchasing an additional 550 shares in the last quarter. Finally, KBC Group NV increased its position in WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after purchasing an additional 196 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Stock Up 1.6%

Shares of WSFS stock traded up $0.89 during mid-day trading on Tuesday, reaching $58.27. 266,259 shares of the company were exchanged, compared to its average volume of 328,882. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The company has a market capitalization of $3.26 billion, a P/E ratio of 12.78 and a beta of 0.89. The business's 50 day simple moving average is $56.08 and its 200 day simple moving average is $53.58.

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 analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $221.93 million. During the same quarter last year, the company earned $1.08 earnings per share. The business's quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on WSFS shares. Stephens reissued an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a research report on Monday, April 28th. DA Davidson increased their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 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 research report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.00.

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.