Frontier Capital Management Co. LLC Raises Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Frontier Capital Management Co. LLC lifted its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 718,978 shares of the bank's stock after buying an additional 48,822 shares during the quarter. Frontier Capital Management Co. LLC owned approximately 1.22% of WSFS Financial worth $38,199,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. increased its stake in WSFS Financial by 0.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,313,175 shares of the bank's stock worth $122,899,000 after buying an additional 19,895 shares during the period. JPMorgan Chase & Co. grew its holdings in WSFS Financial by 309.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock worth $89,674,000 after acquiring an additional 1,276,078 shares in the last quarter. Northern Trust Corp raised its holdings in shares of WSFS Financial by 1.2% in the 4th quarter. Northern Trust Corp now owns 809,334 shares of the bank's stock valued at $43,000,000 after purchasing an additional 9,542 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of WSFS Financial by 1.5% during the 4th quarter. Cooke & Bieler LP now owns 782,767 shares of the bank's stock worth $41,588,000 after purchasing an additional 11,414 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in WSFS Financial by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank's stock valued at $39,347,000 after buying an additional 19,650 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WSFS. Stephens restated an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. Keefe, Bruyette & Woods reduced their price objective on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, WSFS Financial presently has an average rating of "Hold" and an average price target of $62.75.

Insider Transactions at WSFS Financial

In related news, CEO Rodger Levenson sold 7,199 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer now owns 142,780 shares in the company, valued at approximately $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 can be accessed through this link. 1.10% of the stock is owned by insiders.

WSFS Financial Stock Up 1.1%

Shares of NASDAQ WSFS traded up $0.61 during mid-day trading on Wednesday, reaching $55.70. The company had a trading volume of 153,228 shares, compared to its average volume of 297,978. The stock has a market capitalization of $3.16 billion, a PE ratio of 12.60 and a beta of 0.86. WSFS Financial Co. has a twelve month low of $42.21 and a twelve month high of $62.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The stock's 50 day moving average is $50.76 and its 200-day moving average is $53.79.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The business had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. During the same period last year, the business earned $1.11 earnings per share. The firm's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Friday, May 9th. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's payout ratio is 15.28%.

WSFS Financial 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.