Northern Trust Corp Lowers Holdings in WSFS Financial Corporation $WSFS

Key Points

• Northern Trust Corp reduced its holdings in WSFS Financial Corporation by 3.6%, now owning 779,920 shares valued at approximately $40.45 million.
• WSFS Financial recently reported earnings of $1.27 per share, exceeding the consensus estimate by $0.14, with revenues at $267.50 million for the quarter.
• The company announced a quarterly dividend of $0.17, resulting in an annualized yield of 1.2% and a payout ratio of 14.91%.

Northern Trust Corp trimmed its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 3.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 779,920 shares of the bank's stock after selling 29,414 shares during the period. Northern Trust Corp owned approximately 1.37% of WSFS Financial worth $40,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc grew its position in WSFS Financial by 90.0% in the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after buying an additional 252 shares during the last quarter. CWM LLC lifted its holdings in WSFS Financial by 72.7% in the first quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after acquiring an additional 295 shares during the period. GAMMA Investing LLC lifted its holdings in WSFS Financial by 37.0% in the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock valued at $106,000 after acquiring an additional 550 shares during the period. KBC Group NV lifted its holdings in WSFS Financial by 6.8% in the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after acquiring an additional 196 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in WSFS Financial in the fourth quarter valued at $232,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. DA Davidson raised their target price 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 downgraded WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $66.00.

WSFS Financial Trading Down 1.4%

Shares of WSFS stock opened at $58.32 on Friday. The firm has a 50-day moving average price of $56.38 and a 200 day moving average price of $53.62. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $62.75. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 12.79 and a beta of 0.89. 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 earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The firm had revenue of $267.50 million during the quarter, compared to the consensus estimate of $221.93 million. During the same quarter in the previous year, the company posted $1.08 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. Research analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently announced 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 of this dividend was Friday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.2%. WSFS Financial's payout ratio is presently 14.91%.

About WSFS Financial

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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