Bridgeway Capital Management LLC Cuts Holdings in WSFS Financial Corporation $WSFS

Key Points

• Bridgeway Capital Management LLC has reduced its holdings in WSFS Financial Corporation by 26.8%, now owning 95,759 shares after selling 35,000 shares in the first quarter.
• WSFS Financial stock received mixed ratings, with DA Davidson raising the target price to $70.00 and a consensus rating of "Moderate Buy" from analysts.
• The bank recently announced a quarterly dividend of $0.17, resulting in an annualized dividend yield of 1.2%.

Bridgeway Capital Management LLC decreased its holdings in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 26.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,759 shares of the bank's stock after selling 35,000 shares during the period. Bridgeway Capital Management LLC owned about 0.17% of WSFS Financial worth $4,967,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp boosted its position in shares of WSFS Financial by 3.1% during the fourth quarter. Stifel Financial Corp now owns 17,880 shares of the bank's stock valued at $950,000 after buying an additional 546 shares during the last quarter. Northern Trust Corp lifted its stake in WSFS Financial by 1.2% during the 4th quarter. Northern Trust Corp now owns 809,334 shares of the bank's stock valued at $43,000,000 after acquiring an additional 9,542 shares during the period. Comerica Bank boosted its holdings in shares of WSFS Financial by 16.2% during the 4th quarter. Comerica Bank now owns 53,964 shares of the bank's stock valued at $2,867,000 after acquiring an additional 7,530 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of WSFS Financial in the fourth quarter worth approximately $232,000. Finally, Deutsche Bank AG raised its holdings in shares of WSFS Financial by 49.6% during the fourth quarter. Deutsche Bank AG now owns 51,747 shares of the bank's stock valued at $2,749,000 after purchasing an additional 17,165 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WSFS shares. DA Davidson raised their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $66.00.

WSFS Financial Trading Up 2.0%

Shares of WSFS Financial stock opened at $58.41 on Friday. WSFS Financial Corporation has a 1-year low of $42.44 and a 1-year high of $62.75. The company's fifty day simple moving average is $56.79 and its 200-day simple moving average is $53.67. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market capitalization of $3.27 billion, a PE ratio of 12.81 and a beta of 0.91.

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

WSFS Financial Announces Dividend

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

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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