Millennium Management LLC Sells 40,241 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Millennium Management LLC reduced its position in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 64.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,009 shares of the bank's stock after selling 40,241 shares during the period. Millennium Management LLC's holdings in WSFS Financial were worth $1,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WSFS. Farther Finance Advisors LLC grew its position in WSFS Financial by 2,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after acquiring an additional 550 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in WSFS Financial in the fourth quarter worth $32,000. VSM Wealth Advisory LLC purchased a new position in WSFS Financial in the fourth quarter worth $40,000. AlphaQuest LLC purchased a new position in WSFS Financial in the fourth quarter worth $84,000. Finally, Sterling Capital Management LLC grew its position in WSFS Financial by 804.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock worth $99,000 after acquiring an additional 1,657 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WSFS. Wall Street Zen lowered shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods cut their target price on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.75.

WSFS Financial Trading Up 2.3%

WSFS Financial stock traded up $1.21 during mid-day trading on Friday, hitting $53.08. The company's stock had a trading volume of 350,884 shares, compared to its average volume of 304,981. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 12.01 and a beta of 0.87. The business has a 50 day moving average price of $51.31 and a 200-day moving average price of $53.62. WSFS Financial Co. has a 12 month low of $42.21 and a 12 month high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $256.11 million during the quarter, compared to the consensus estimate of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. As a group, analysts forecast that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. WSFS Financial's dividend payout ratio is 15.28%.

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.