Wellington Management Group LLP Sells 14,827 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Wellington Management Group LLP lowered its position in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 200,932 shares of the bank's stock after selling 14,827 shares during the quarter. Wellington Management Group LLP owned about 0.34% of WSFS Financial worth $10,676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WSFS. Principal Financial Group Inc. increased its stake in shares of WSFS Financial by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock worth $16,856,000 after acquiring an additional 10,915 shares in the last quarter. Sei Investments Co. boosted its stake in WSFS Financial by 58.4% during the fourth quarter. Sei Investments Co. now owns 56,359 shares of the bank's stock worth $2,994,000 after acquiring an additional 20,784 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in WSFS Financial in the fourth quarter worth about $18,167,000. AlphaQuest LLC bought a new position in shares of WSFS Financial during the fourth quarter valued at approximately $84,000. Finally, Norges Bank bought a new position in shares of WSFS Financial during the fourth quarter valued at approximately $32,775,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

WSFS has been the topic of a number of analyst reports. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Keefe, Bruyette & Woods lowered their price objective on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Stock Performance

WSFS traded down $1.18 during midday trading on Wednesday, hitting $51.97. 220,034 shares of the company traded hands, compared to its average volume of 303,333. The company's 50-day moving average is $51.29 and its 200 day moving average is $53.77. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.95 billion, a PE ratio of 11.76 and a beta of 0.86. WSFS Financial Co. has a 52 week low of $42.21 and a 52 week high of $62.75.

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

WSFS Financial Increases Dividend

The company 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. This is an increase 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 1.31%. The ex-dividend date was Friday, May 9th. WSFS Financial's dividend payout ratio (DPR) is 15.28%.

WSFS Financial 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.