Bryce Point Capital LLC Invests $863,000 in WSFS Financial Corporation (NASDAQ:WSFS)

Key Points

• Bryce Point Capital LLC invested $863,000 in WSFS Financial Corporation by acquiring 16,468 shares, marking a significant new position for the hedge fund.
• WSFS Financial reported quarterly earnings of $1.27 per share, surpassing estimates, with revenues totaling $267.50 million, up 0.6% year-over-year.
• The company declared a quarterly dividend of $0.17, translating to an annualized yield of 1.21% and a payout ratio of 14.91%.

Bryce Point Capital LLC acquired a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,468 shares of the bank's stock, valued at approximately $863,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of WSFS Financial in the first quarter worth about $3,290,000. Cooke & Bieler LP boosted its holdings in shares of WSFS Financial by 14.0% during the 1st quarter. Cooke & Bieler LP now owns 892,286 shares of the bank's stock valued at $46,283,000 after buying an additional 109,519 shares in the last quarter. CWM LLC raised its position in shares of WSFS Financial by 72.7% in the 1st quarter. CWM LLC now owns 701 shares of the bank's stock worth $36,000 after purchasing an additional 295 shares during the last quarter. Xponance Inc. lifted its stake 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 acquiring an additional 209 shares during the period. Finally, Cerity Partners LLC bought a new position in WSFS Financial during the 1st quarter valued at about $661,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Performance

Shares of WSFS Financial stock traded down $0.55 on Thursday, reaching $55.17. 176,397 shares of the stock were exchanged, compared to its average volume of 331,711. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $62.75. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.10 and a beta of 0.87. The business has a 50 day moving average price of $55.06 and a two-hundred day moving average price of $53.55.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. Analysts anticipate 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 will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Friday, August 8th. WSFS Financial's dividend payout ratio (DPR) is 14.91%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WSFS shares. Stephens restated an "overweight" rating and set a $64.00 price target on shares of WSFS Financial in a research note on Monday, April 28th. Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Keefe, Bruyette & Woods dropped their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, DA Davidson upped their price target on WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" 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.