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 lowered its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 16.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.08% of WSFS Financial worth $2,247,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WSFS. Versant Capital Management Inc lifted its holdings in WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after purchasing an additional 252 shares in the last quarter. CWM LLC lifted its holdings in WSFS Financial by 72.7% during the first quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 550 shares in the last quarter. KBC Group NV lifted its holdings in shares of WSFS Financial by 6.8% in 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 in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of WSFS Financial by 4.9% in the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock worth $230,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Price Performance

WSFS Financial stock traded up $0.04 during mid-day trading on Friday, reaching $58.45. 158,667 shares of the company's stock traded hands, compared to its average volume of 328,314. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 12.82 and a beta of 0.91. The stock has a 50 day moving average of $56.79 and a two-hundred day moving average of $53.67. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $221.93 million. During the same quarter in the previous year, the business posted $1.08 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 yield of 1.2%. WSFS Financial's payout ratio is 14.91%.

Analyst Upgrades and Downgrades

WSFS has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus 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.