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Champlain Investment Partners LLC Sells 18,913 Shares of WSFS Financial Corporation $WSFS

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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%.
  • Want stock alerts on WSFS Financial? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Champlain Investment Partners LLC decreased its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 SEC filing.

Several other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of WSFS Financial by 0.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,320,766 shares of the bank's stock worth $120,379,000 after acquiring an additional 7,591 shares in the last quarter. Invesco Ltd. grew its position in shares of WSFS Financial by 1.6% in the 1st quarter. Invesco Ltd. now owns 969,476 shares of the bank's stock worth $50,287,000 after acquiring an additional 15,281 shares in the last quarter. Cooke & Bieler LP raised its position 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 worth $46,283,000 after purchasing an additional 109,519 shares during the period. Northern Trust Corp raised its position in shares of WSFS Financial by 1.2% during the 4th quarter. Northern Trust Corp now owns 809,334 shares of the bank's stock worth $43,000,000 after purchasing an additional 9,542 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in WSFS Financial by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 748,085 shares of the bank's stock worth $38,803,000 after buying an additional 7,501 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Trading Down 0.1%

Shares of WSFS Financial stock traded down $0.03 during trading on Friday, hitting $58.29. The stock had a trading volume of 298,612 shares, compared to its average volume of 318,773. The stock has a 50 day simple moving average of $56.51 and a 200 day simple moving average of $53.61. The company has a market capitalization of $3.26 billion, a PE ratio of 12.78 and a beta of 0.89. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. 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 released its 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 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 firm's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, research analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WSFS shares. Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. DA Davidson increased their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, WSFS Financial currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

Get Our Latest Stock Report on WSFS

About WSFS Financial

(Free Report)

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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Institutional Ownership by Quarter for WSFS Financial (NASDAQ:WSFS)

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