Frontier Capital Management Co. LLC raised its stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 718,978 shares of the bank's stock after acquiring an additional 48,822 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 1.22% of WSFS Financial worth $38,199,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in WSFS Financial by 2,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock valued at $30,000 after purchasing an additional 550 shares during the last quarter. Crowley Wealth Management Inc. acquired a new position in WSFS Financial in the fourth quarter valued at $32,000. VSM Wealth Advisory LLC acquired a new position in WSFS Financial in the fourth quarter valued at $40,000. AlphaQuest LLC acquired a new position in WSFS Financial in the fourth quarter valued at $84,000. Finally, Sterling Capital Management LLC increased its stake in WSFS Financial by 804.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock valued at $99,000 after purchasing an additional 1,657 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at WSFS Financial
In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the sale, the chief executive officer now owns 142,780 shares in the company, valued at $7,881,456. This represents a 4.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.10% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently commented on WSFS shares. Stephens reiterated an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. Keefe, Bruyette & Woods dropped their price target on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.75.
View Our Latest Report on WSFS Financial
WSFS Financial Trading Down 1.0%
NASDAQ:WSFS traded down $0.56 on Friday, hitting $53.35. 299,322 shares of the stock were exchanged, compared to its average volume of 296,821. The stock has a market cap of $3.03 billion, a PE ratio of 12.07 and a beta of 0.86. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $50.64 and a 200-day moving average of $53.74. WSFS Financial Co. has a fifty-two week low of $42.21 and a fifty-two week high of $62.75.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The company had revenue of $256.11 million during the quarter, compared to the consensus estimate of $235.44 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. The company's revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.
WSFS Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a $0.17 dividend. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.27%. WSFS Financial's dividend payout ratio is presently 15.28%.
WSFS Financial Company Profile
(
Free Report)
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.
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