Bridgeway Capital Management LLC Trims Stock Position 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 lessened its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 26.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 95,759 shares of the bank's stock after selling 35,000 shares during the period. Bridgeway Capital Management LLC owned approximately 0.17% of WSFS Financial worth $4,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of WSFS. Versant Capital Management Inc raised its holdings in WSFS Financial by 90.0% during the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after buying an additional 252 shares during the period. CWM LLC lifted its holdings in WSFS Financial by 72.7% during the 1st quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after buying an additional 295 shares in the last quarter. GAMMA Investing LLC lifted its holdings in WSFS Financial by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock valued at $106,000 after buying an additional 550 shares in the last quarter. KBC Group NV lifted its holdings in WSFS Financial by 6.8% during the 1st 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. Finally, Xponance Inc. lifted its holdings in WSFS Financial by 4.9% during the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

WSFS has been the subject of several research reports. DA Davidson upped their target price on 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 downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a research 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $66.00.

WSFS Financial Stock Performance

WSFS traded down $0.02 on Wednesday, reaching $56.94. 42,480 shares of the stock were exchanged, compared to its average volume of 326,849. The company's 50-day moving average price is $56.91 and its 200 day moving average price is $53.69. 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 current ratio of 0.84 and a quick ratio of 0.83. The firm has a market capitalization of $3.19 billion, a PE ratio of 12.49 and a beta of 0.91.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $221.93 million. During the same period in the previous year, the business posted $1.08 EPS. The business's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

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