Price T Rowe Associates Inc. MD Sells 26,284 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Price T Rowe Associates Inc. MD cut its position in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,867 shares of the bank's stock after selling 26,284 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.09% of WSFS Financial worth $2,756,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of 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 during the last quarter. Norges Bank bought a new position in WSFS Financial during the fourth quarter worth $32,775,000. Raymond James Financial Inc. acquired a new position in shares of WSFS Financial in the fourth quarter valued at $18,167,000. Assenagon Asset Management S.A. raised its position in shares of WSFS Financial by 819.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank's stock valued at $13,528,000 after purchasing an additional 226,933 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of WSFS Financial by 179.8% during the 4th quarter. Great Lakes Advisors LLC now owns 169,563 shares of the bank's stock worth $9,009,000 after buying an additional 108,968 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Stock Performance

WSFS Financial stock traded up $1.93 during midday trading on Monday, hitting $55.28. The company's stock had a trading volume of 37,333 shares, compared to its average volume of 295,840. WSFS Financial Co. has a 1-year low of $42.21 and a 1-year high of $62.75. The company has a 50-day moving average price of $50.64 and a two-hundred day moving average price of $53.74. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 12.54 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $0.09. The business had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 earnings per share. As a group, sell-side analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current 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 given a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio (DPR) is presently 15.28%.

Wall Street Analysts Forecast Growth

WSFS has been the topic of a number of research reports. Keefe, Bruyette & Woods decreased their price target on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Stephens reaffirmed an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $62.75.

Insider Activity at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the sale, the chief executive officer now directly 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 at the SEC website. 1.10% of the stock is owned by insiders.

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.