WSFS Financial Corporation $WSFS Stock Holdings Trimmed by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in WSFS Financial Corporation by 10.9%, now owning approximately 704,315 shares worth $36.5 million as of the latest 13F filing.
• WSFS Financial recently reported an earnings per share of $1.27, surpassing analysts' expectations and showing a revenue increase of 0.6% year-over-year.
• The company's quarterly dividend was declared at $0.17 per share, resulting in an annualized yield of 1.2%.

Alliancebernstein L.P. lessened its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 10.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 704,315 shares of the bank's stock after selling 86,373 shares during the period. Alliancebernstein L.P. owned approximately 1.24% of WSFS Financial worth $36,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WSFS. Boston Partners bought a new stake in shares of WSFS Financial in the 1st quarter worth $17,668,000. Nuveen LLC bought a new stake in shares of WSFS Financial in the 1st quarter worth $12,090,000. Cooke & Bieler LP raised its stake in shares of WSFS Financial by 14.0% in the 1st quarter. Cooke & Bieler LP now owns 892,286 shares of the bank's stock worth $46,283,000 after buying an additional 109,519 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WSFS Financial by 7,004.2% in the 1st quarter. GAMMA Investing LLC now owns 105,711 shares of the bank's stock worth $5,483,000 after buying an additional 104,223 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of WSFS Financial in the 1st quarter worth $3,290,000. Institutional investors own 88.49% of the company's stock.

Analysts Set New Price Targets

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

WSFS Financial Price Performance

NASDAQ WSFS opened at $58.15 on Tuesday. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $62.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market capitalization of $3.25 billion, a PE ratio of 12.75 and a beta of 0.91. The stock has a 50-day simple moving average of $56.91 and a 200 day simple moving average of $53.67.

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, topping the consensus estimate of $1.13 by $0.14. The business had revenue of $267.50 million during the quarter, compared to analysts' expectations of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The firm's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 EPS. Research analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.2%. WSFS Financial's dividend payout ratio is 14.91%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.