Bank of New York Mellon Corp Has $23.41 Million Holdings in WSFS Financial Corporation (NASDAQ:WSFS)

Bank of New York Mellon Corp trimmed its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 451,218 shares of the bank's stock after selling 18,231 shares during the period. Bank of New York Mellon Corp owned about 0.78% of WSFS Financial worth $23,405,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen lowered shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Stephens reiterated an "overweight" rating and set a $64.00 price target on shares of WSFS Financial in a research report on Monday, April 28th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a report on Monday, April 28th. One equities 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $62.75.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS opened at $58.69 on Friday. The firm has a fifty day simple moving average of $54.66 and a two-hundred day simple moving average of $53.27. The stock has a market capitalization of $3.33 billion, a P/E ratio of 13.19 and a beta of 0.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. 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 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. The firm had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a net margin of 18.86% and a return on equity of 10.06%. WSFS Financial's revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.11 EPS. On average, analysts expect that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were given a dividend of $0.17 per share. The ex-dividend date was Friday, May 9th. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. WSFS Financial's dividend payout ratio is currently 15.28%.

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.

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