American Century Companies Inc. Sells 53,064 Shares of WSFS Financial Corporation $WSFS

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. decreased its position 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 Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Xponance Inc. raised its holdings in WSFS Financial by 4.9% during the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock worth $230,000 after purchasing an additional 209 shares in the last quarter. GAMMA Investing LLC raised its holdings in WSFS Financial by 37.0% during the first 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. Principal Financial Group Inc. raised its holdings in WSFS Financial by 2.2% during the first quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank's stock worth $16,820,000 after purchasing an additional 7,012 shares in the last quarter. Deutsche Bank AG raised its holdings in WSFS Financial by 49.6% during the fourth quarter. Deutsche Bank AG now owns 51,747 shares of the bank's stock worth $2,749,000 after purchasing an additional 17,165 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of WSFS Financial by 6.8% in the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after buying an additional 196 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Up 3.9%

Shares of NASDAQ:WSFS traded up $2.16 during midday trading on Friday, hitting $57.84. 472,775 shares of the stock were exchanged, compared to its average volume of 341,985. The company has a market capitalization of $3.24 billion, a PE ratio of 12.68 and a beta of 0.89. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-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 business's fifty day simple moving average is $55.81 and its two-hundred day simple moving average is $53.58.

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

WSFS Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WSFS shares. DA Davidson upped their price target on WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods dropped their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. Stephens reaffirmed an "overweight" rating and issued a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.