WSFS Financial Corporation $WSFS Position Reduced by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in WSFS Financial Corporation by 1.8%, now owning approximately 0.59% of the company, valued at $17.4 million.
• Wall Street analysts have mixed views, with one firm lowering the stock's rating to "sell", while another increased its price target from $68 to $70 and maintained a "buy" rating.
• WSFS Financial recently announced a dividend of $0.17 per share, translating to an annualized dividend of $0.68 and a yield of 1.1%.

Raymond James Financial Inc. lessened its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 335,688 shares of the bank's stock after selling 6,255 shares during the period. Raymond James Financial Inc. owned approximately 0.59% of WSFS Financial worth $17,412,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV grew 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 valued at $160,000 after acquiring an additional 196 shares during the period. Natixis Advisors LLC grew its position in WSFS Financial by 1.5% during the first quarter. Natixis Advisors LLC now owns 14,088 shares of the bank's stock valued at $731,000 after acquiring an additional 204 shares during the period. Xponance Inc. grew its position in WSFS Financial by 4.9% during the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after acquiring an additional 209 shares during the period. Mariner LLC grew its position in WSFS Financial by 5.1% during the fourth quarter. Mariner LLC now owns 4,457 shares of the bank's stock valued at $237,000 after acquiring an additional 215 shares during the period. Finally, Versant Capital Management Inc grew its position 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 acquiring an additional 252 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on WSFS. DA Davidson boosted their price target on WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.00.

WSFS Financial Stock Down 0.1%

Shares of NASDAQ WSFS traded down $0.03 on Monday, hitting $58.29. The company had a trading volume of 298,612 shares, compared to its average volume of 311,627. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $62.75. The firm has a market capitalization of $3.26 billion, a P/E ratio of 12.78 and a beta of 0.91. 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 business has a 50 day moving average of $56.51 and a two-hundred day moving average of $53.59.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. The firm had revenue of $267.50 million for the quarter, compared to analyst estimates of $221.93 million. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. As a group, equities research analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, August 8th. WSFS Financial's dividend payout ratio (DPR) is 14.91%.

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.