Graham Capital Management L.P. Buys 14,431 Shares of WSFS Financial Corporation $WSFS

Key Points

• Graham Capital Management L.P. increased its holdings in WSFS Financial Corporation by 74.2%, owning 33,879 shares valued at approximately $1.76 million as of the latest filing.
• WSFS Financial reported earnings of $1.27 per share for the recent quarter, surpassing estimates and showing a slight revenue increase compared to the previous year.
• A quarterly dividend of $0.17 was paid recently, reflecting an annualized dividend yield of 1.2% and a dividend payout ratio of 14.91%.

Graham Capital Management L.P. increased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 74.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,879 shares of the bank's stock after purchasing an additional 14,431 shares during the quarter. Graham Capital Management L.P. owned approximately 0.06% of WSFS Financial worth $1,757,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its position in shares of WSFS Financial by 0.3% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,320,766 shares of the bank's stock worth $120,379,000 after purchasing an additional 7,591 shares in the last quarter. Invesco Ltd. grew its position in shares of WSFS Financial by 1.6% during the first quarter. Invesco Ltd. now owns 969,476 shares of the bank's stock worth $50,287,000 after purchasing an additional 15,281 shares in the last quarter. Cooke & Bieler LP grew its position in shares of WSFS Financial by 14.0% during the first 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 in the last quarter. Northern Trust Corp grew its position in shares of WSFS Financial by 1.2% during the fourth 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of WSFS Financial by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 748,085 shares of the bank's stock worth $38,803,000 after purchasing an additional 7,501 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Trading Down 0.2%

NASDAQ WSFS traded down $0.12 on Friday, hitting $58.29. 297,099 shares of the stock were exchanged, compared to its average volume of 288,447. 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 fifty day moving average price of $56.85 and a two-hundred day moving average price of $53.66. The firm has a market capitalization of $3.26 billion, a P/E ratio of 12.78 and a beta of 0.91. 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 data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $267.50 million during the quarter, compared to analyst estimates of $221.93 million. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. WSFS Financial's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. Research analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

Analyst Ratings Changes

WSFS has been the subject of several research analyst reports. DA Davidson raised their price target on 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 WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, WSFS Financial has an average rating of "Moderate Buy" and a consensus price target 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.