Champlain Investment Partners LLC Cuts Stock Holdings in WSFS Financial Corporation $WSFS

Key Points

• Champlain Investment Partners LLC reduced its stake in WSFS Financial Corporation by 1.5% during the 1st quarter, now holding 1,215,921 shares valued at approximately $63 million.
• WSFS Financial reported earnings of $1.27 per share for the last quarter, exceeding analysts' expectations, with revenue of $267.50 million, up 0.6% from the previous year.
• The company recently declared a quarterly dividend of $0.17 per share, resulting in an annualized yield of 1.2% with a low payout ratio of 14.91%.

Champlain Investment Partners LLC reduced its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,215,921 shares of the bank's stock after selling 18,913 shares during the quarter. Champlain Investment Partners LLC owned 2.14% of WSFS Financial worth $63,070,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. KBC Group NV grew its position in WSFS Financial by 6.8% during the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after buying an additional 196 shares during the period. Natixis Advisors LLC grew its position in WSFS Financial by 1.5% during the first quarter. Natixis Advisors LLC now owns 14,088 shares of the bank's stock worth $731,000 after buying an additional 204 shares during the period. Xponance Inc. grew its position in WSFS Financial by 4.9% during the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock worth $230,000 after buying an additional 209 shares during the period. Mariner LLC grew its position in WSFS Financial by 5.1% during the fourth quarter. Mariner LLC now owns 4,457 shares of the bank's stock worth $237,000 after buying an additional 215 shares during the period. Finally, Versant Capital Management Inc grew its position in WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock worth $28,000 after buying an additional 252 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Trading Down 0.1%

Shares of WSFS traded down $0.03 on Monday, hitting $58.29. 298,612 shares of the stock traded hands, compared to its average volume of 311,627. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.26 billion, a P/E ratio of 12.78 and a beta of 0.91. The stock's 50 day moving average is $56.51 and its two-hundred day moving average is $53.59. WSFS Financial Corporation has a 1 year low of $42.44 and a 1 year high of $62.75.

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

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a dividend of $0.17 per share. 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 is presently 14.91%.

Wall Street Analysts Forecast Growth

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