Wedge Capital Management L L P NC Sells 27,912 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Wedge Capital Management L L P NC reduced its holdings in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 41.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,689 shares of the bank's stock after selling 27,912 shares during the quarter. Wedge Capital Management L L P NC owned about 0.07% of WSFS Financial worth $2,059,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC grew its stake in WSFS Financial by 10.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,926 shares of the bank's stock valued at $12,110,000 after acquiring an additional 21,990 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in WSFS Financial by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock valued at $16,856,000 after acquiring an additional 10,915 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of WSFS Financial by 3.0% during the 4th quarter. New York State Common Retirement Fund now owns 250,058 shares of the bank's stock worth $13,286,000 after purchasing an additional 7,293 shares during the period. Handelsbanken Fonder AB increased its position in shares of WSFS Financial by 11.4% in the fourth quarter. Handelsbanken Fonder AB now owns 13,705 shares of the bank's stock worth $728,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of WSFS Financial by 21.4% in the fourth quarter. Fisher Asset Management LLC now owns 267,028 shares of the bank's stock worth $14,187,000 after buying an additional 47,028 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Price Performance

Shares of WSFS stock traded down $1.37 during mid-day trading on Friday, hitting $51.71. 537,543 shares of the stock traded hands, compared to its average volume of 305,508. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The company's 50-day simple moving average is $51.71 and its 200-day simple moving average is $53.51. WSFS Financial Co. has a twelve month low of $42.44 and a twelve month high of $62.75. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 11.70 and a beta of 0.87.

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

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date was Friday, May 9th. WSFS Financial's dividend payout ratio (DPR) is currently 15.28%.

Analysts Set New Price Targets

WSFS has been the topic of several analyst reports. Stephens reaffirmed an "overweight" rating and set a $64.00 price target on shares of WSFS Financial in a research note on Monday, April 28th. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, Keefe, Bruyette & Woods decreased their target price on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, WSFS Financial currently has a consensus rating of "Hold" and a consensus target price of $62.75.

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.