Wellington Management Group LLP lifted its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 111.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 307,789 shares of the bank's stock after purchasing an additional 162,406 shares during the quarter. Wellington Management Group LLP owned 0.60% of WSFS Financial worth $23,617,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in WSFS. AQR Capital Management LLC raised its stake in shares of WSFS Financial by 102.6% in the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank's stock valued at $537,000 after acquiring an additional 5,240 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of WSFS Financial by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank's stock valued at $1,807,000 after buying an additional 1,176 shares in the last quarter. Millennium Management LLC raised its holdings in shares of WSFS Financial by 230.4% in the first quarter. Millennium Management LLC now owns 72,726 shares of the bank's stock valued at $3,772,000 after buying an additional 50,717 shares during the last quarter. United Services Automobile Association acquired a new position in WSFS Financial during the 1st quarter worth about $204,000. Finally, Jane Street Group LLC grew its holdings in WSFS Financial by 579.0% during the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank's stock worth $6,093,000 after acquiring an additional 100,171 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.
WSFS Financial Trading Up 0.7%
NASDAQ:WSFS opened at $79.37 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 1-year low of $49.92 and a 1-year high of $82.94. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of 13.27 and a beta of 0.76. The business's 50-day moving average price is $79.31 and its two-hundred day moving average price is $72.65.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The company had revenue of $284.70 million during the quarter, compared to analysts' expectations of $278.41 million. During the same period in the prior year, the business posted $1.27 EPS. WSFS Financial's revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that WSFS Financial Corporation will post 6.58 earnings per share for the current year.
WSFS Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.20 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.80 annualized dividend and a yield of 1.0%. WSFS Financial's dividend payout ratio (DPR) is 13.38%.
Insider Buying and Selling at WSFS Financial
In related news, CEO Rodger Levenson sold 65,446 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This represents a 26.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Shari Kruzinski sold 3,500 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president directly owned 15,207 shares in the company, valued at $1,243,020.18. The trade was a 18.71% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. Stephens downgraded shares of WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 target price for the company. in a research note on Wednesday, August 12th. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings upgraded WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, August 31st. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a report on Monday, July 27th. Finally, TD Cowen reissued a "buy" rating on shares of WSFS Financial in a report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, WSFS Financial has a consensus rating of "Hold" and a consensus price target of $83.07.
Check Out Our Latest Stock Analysis on WSFS Financial
WSFS Financial Company Profile
(
Free Report)
WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.
WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.
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