Earnest Partners LLC Cuts Holdings 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 decreased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 9.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc raised its position in WSFS Financial by 90.0% during the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after purchasing an additional 252 shares during the last quarter. CWM LLC raised its position in WSFS Financial by 72.7% during the 1st quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after purchasing an additional 295 shares during the last quarter. GAMMA Investing LLC raised its position in WSFS Financial by 37.0% during 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 during the last quarter. KBC Group NV raised its position in WSFS Financial by 6.8% during 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 during the last quarter. Finally, Xponance Inc. raised its position in WSFS Financial by 4.9% during the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Down 0.1%

Shares of WSFS Financial stock traded down $0.03 during midday trading on Friday, hitting $58.29. The company had a trading volume of 298,612 shares, compared to its average volume of 318,773. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $3.26 billion, a P/E ratio of 12.78 and a beta of 0.89. The company has a 50 day moving average of $56.51 and a 200 day moving average of $53.61. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week 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 for the quarter, compared to the consensus estimate of $221.93 million. WSFS Financial had a return on equity of 10.15% 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 business posted $1.08 EPS. 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 business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.17 dividend. The ex-dividend date 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%.

Analyst Ratings Changes

A number of research analysts have commented on the company. DA Davidson upped their price target 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 cut WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

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.