New York State Common Retirement Fund Reduces Position in WSFS Financial Corporation (NASDAQ:WSFS)

New York State Common Retirement Fund cut its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 7.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 231,816 shares of the bank's stock after selling 18,242 shares during the period. New York State Common Retirement Fund owned 0.40% of WSFS Financial worth $12,024,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in 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. Farther Finance Advisors LLC lifted its stake in shares of WSFS Financial by 2,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after acquiring an additional 550 shares during the period. Crowley Wealth Management Inc. acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $32,000. VSM Wealth Advisory LLC acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $40,000. Finally, AlphaQuest LLC acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $84,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WSFS has been the subject of several recent research reports. Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Keefe, Bruyette & Woods lowered 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 report on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Stock Up 1.9%

WSFS opened at $58.69 on Friday. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.83 and a quick ratio of 0.83. The firm's fifty day moving average price is $54.66 and its two-hundred day moving average price is $53.27. The company has a market capitalization of $3.33 billion, a P/E ratio of 13.19 and a beta of 0.87.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.06% and a net margin of 18.86%. The company had revenue of $256.11 million during the quarter, compared to analysts' expectations of $235.44 million. During the same period last year, the business earned $1.11 earnings per share. The business's revenue was up 1.7% on a year-over-year basis. On average, analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. 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.

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