Cerity Partners LLC Makes New Investment in WSFS Financial Corporation (NASDAQ:WSFS)

Cerity Partners LLC purchased a new position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,735 shares of the bank's stock, valued at approximately $661,000.

Several other hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in WSFS Financial by 309.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock worth $89,674,000 after purchasing an additional 1,276,078 shares during the period. Norges Bank acquired a new position in WSFS Financial during the fourth quarter worth about $32,775,000. Raymond James Financial Inc. bought a new stake in shares of WSFS Financial during the fourth quarter worth about $18,167,000. GAMMA Investing LLC grew its holdings in shares of WSFS Financial by 7,004.2% during the first quarter. GAMMA Investing LLC now owns 105,711 shares of the bank's stock worth $5,483,000 after purchasing an additional 104,223 shares during the last quarter. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of WSFS Financial by 7.3% during the fourth quarter. Frontier Capital Management Co. LLC now owns 718,978 shares of the bank's stock worth $38,199,000 after purchasing an additional 48,822 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Performance

NASDAQ:WSFS traded down $0.25 during trading on Friday, reaching $56.36. The company's stock had a trading volume of 491,632 shares, compared to its average volume of 309,987. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 12.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50 day moving average of $54.96 and a 200-day moving average of $53.44. WSFS Financial Corporation has a 12 month low of $42.44 and a 12 month high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $221.93 million. WSFS Financial had a return on equity of 10.19% and a net margin of 19.29%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. Research analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, August 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. WSFS Financial's payout ratio is 15.28%.

Analysts Set New Price Targets

Several brokerages recently commented on WSFS. Stephens reiterated an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen lowered WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Company 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.