WSFS Financial Corporation $WSFS Shares Sold by Northern Trust Corp

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 decreased its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Aberdeen Group plc boosted its position in shares of WSFS Financial by 2.6% in the first quarter. Aberdeen Group plc now owns 524,841 shares of the bank's stock worth $27,224,000 after buying an additional 13,549 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of WSFS Financial by 11.5% in the first quarter. Lord Abbett & CO. LLC now owns 140,177 shares of the bank's stock worth $7,271,000 after buying an additional 14,438 shares during the period. Boston Partners purchased a new stake in shares of WSFS Financial in the first quarter worth about $17,668,000. Russell Investments Group Ltd. boosted its holdings in WSFS Financial by 9.0% in the first quarter. Russell Investments Group Ltd. now owns 10,357 shares of the bank's stock valued at $537,000 after purchasing an additional 854 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in WSFS Financial by 10.8% in the first quarter. HighTower Advisors LLC now owns 5,278 shares of the bank's stock valued at $274,000 after purchasing an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Performance

NASDAQ:WSFS traded down $0.19 during trading hours on Wednesday, reaching $57.29. 216,506 shares of the stock were exchanged, compared to its average volume of 293,809. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a 50 day simple moving average of $56.73 and a 200-day simple moving average of $53.65. WSFS Financial Corporation has a 52 week low of $42.44 and a 52 week high of $62.75. The stock has a market capitalization of $3.21 billion, a P/E ratio of 12.56 and a beta of 0.91.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The company had revenue of $267.50 million for the quarter, compared to the consensus estimate of $221.93 million. During the same quarter last year, the business posted $1.08 EPS. WSFS Financial's quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. DA Davidson increased 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. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.00.

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.