Earnest Partners LLC Has $14.37 Million Position in WSFS Financial Corporation $WSFS

Key Points

• Earnest Partners LLC reduced its holdings in WSFS Financial Corporation by 9.0% in Q1, selling 27,244 shares, leaving them with 277,046 shares valued at approximately $14.37 million.
• WSFS Financial reported a quarterly earnings per share (EPS) of $1.27, exceeding estimates by $0.14, and had a revenue of $267.50 million, beating expectations.
• The company recently declared a quarterly dividend of $0.17 per share, representing an annualized dividend yield of 1.1% and a payout ratio of 14.91%.

Earnest Partners LLC cut its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 9.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 277,046 shares of the bank's stock after selling 27,244 shares during the period. Earnest Partners LLC owned 0.49% of WSFS Financial worth $14,370,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of WSFS Financial by 90.0% during the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock worth $28,000 after purchasing an additional 252 shares during the period. 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 valued at $36,000 after purchasing an additional 295 shares in the last quarter. GAMMA Investing LLC raised its position in shares of WSFS Financial by 37.0% in the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock valued at $106,000 after purchasing an additional 550 shares in the last quarter. KBC Group NV raised its position in shares of WSFS Financial by 6.8% in the 1st quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after purchasing an additional 196 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of WSFS Financial in the 4th quarter valued at approximately $232,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Price Performance

WSFS stock traded down $1.33 during trading hours on Tuesday, hitting $56.96. 61,931 shares of the stock traded hands, compared to its average volume of 329,416. The stock has a 50-day simple moving average of $56.61 and a 200 day simple moving average of $53.60. The company has a market cap of $3.19 billion, a P/E ratio of 12.49 and a beta of 0.91. WSFS Financial Corporation has a one year low of $42.44 and a one year high of $62.75. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11.

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

WSFS Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WSFS. DA Davidson upped their target price on 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 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $66.00.

WSFS Financial 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.