WSFS Financial Corporation $WSFS Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in WSFS Financial Corporation by 30.9%, owning 37,264 shares worth approximately $1,933,000 after selling 16,700 shares in the first quarter.
• WSFS Financial reported earnings of $1.27 per share for the most recent quarter, exceeding analyst expectations, with revenue reaching $267.5 million.
• Analysts have mixed views on WSFS Financial, with a consensus rating of "Moderate Buy" and a target price of $66.00.

Comerica Bank lessened its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 30.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,264 shares of the bank's stock after selling 16,700 shares during the period. Comerica Bank owned approximately 0.07% of WSFS Financial worth $1,933,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its position in shares of WSFS Financial by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,320,766 shares of the bank's stock valued at $120,379,000 after acquiring an additional 7,591 shares during the period. Aberdeen Group plc lifted its stake in shares of WSFS Financial by 2.6% during the 1st quarter. Aberdeen Group plc now owns 524,841 shares of the bank's stock valued at $27,224,000 after buying an additional 13,549 shares in the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of WSFS Financial by 11.5% during the 1st quarter. Lord Abbett & CO. LLC now owns 140,177 shares of the bank's stock valued at $7,271,000 after buying an additional 14,438 shares in the last quarter. Boston Partners purchased a new position in shares of WSFS Financial during the 1st quarter valued at $17,668,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of WSFS Financial by 9.0% during the 1st quarter. Russell Investments Group Ltd. now owns 10,357 shares of the bank's stock valued at $537,000 after buying an additional 854 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Analysts Set New Price Targets

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

WSFS Financial Trading Down 0.7%

WSFS stock traded down $0.38 during mid-day trading on Monday, reaching $57.91. The company had a trading volume of 31,036 shares, compared to its average volume of 327,337. 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 50 day moving average of $56.85 and a 200 day moving average of $53.64. WSFS Financial Corporation has a 12 month low of $42.44 and a 12 month high of $62.75. The company has a market capitalization of $3.24 billion, a PE ratio of 12.70 and a beta of 0.91.

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

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given 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 dividend payout ratio (DPR) is currently 14.91%.

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.