Rafferty Asset Management LLC Sells 8,361 Shares of WSFS Financial Corporation $WSFS

Key Points

• Rafferty Asset Management LLC decreased its stake in WSFS Financial by 16.2%, owning 43,320 shares valued at approximately $2.25 million after selling 8,361 shares in the first quarter.
• WSFS Financial reported earnings of $1.27 per share, exceeding estimates, with revenue of $267.50 million for the last quarter, up 0.6% from the previous year.
• The company announced a quarterly dividend of $0.17, reflecting an annualized yield of 1.2%, with a payout ratio of 14.91%.

Rafferty Asset Management LLC decreased its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,320 shares of the bank's stock after selling 8,361 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.08% of WSFS Financial worth $2,247,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of WSFS Financial by 4.9% during the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after buying an additional 209 shares during the last quarter. GAMMA Investing LLC grew its position in WSFS Financial by 37.0% in the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock worth $106,000 after acquiring an additional 550 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of WSFS Financial by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank's stock worth $16,820,000 after purchasing an additional 7,012 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of WSFS Financial by 49.6% during the 4th quarter. Deutsche Bank AG now owns 51,747 shares of the bank's stock valued at $2,749,000 after purchasing an additional 17,165 shares in the last quarter. Finally, KBC Group NV increased its position in WSFS Financial by 6.8% during the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Stock Performance

NASDAQ WSFS traded up $0.60 during midday trading on Thursday, hitting $57.89. The company had a trading volume of 89,597 shares, compared to its average volume of 328,519. The firm has a fifty day simple moving average of $56.73 and a two-hundred day simple moving average of $53.65. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. 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 stock has a market cap of $3.24 billion, a price-to-earnings ratio of 12.70 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 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 business had revenue of $267.50 million during the quarter, compared to analysts' expectations of $221.93 million. During the same quarter last year, the company earned $1.08 earnings per share. The firm's revenue was up .6% on a year-over-year basis. Equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. WSFS Financial's payout ratio is currently 14.91%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wall Street Zen lowered WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. DA Davidson upped their target price on WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target 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.