WSFS Financial Co. (NASDAQ:WSFS) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 592,736 shares of the bank's stock after selling 7,612 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.01% of WSFS Financial worth $31,492,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of WSFS. Farther Finance Advisors LLC increased its position in WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after purchasing an additional 550 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of WSFS Financial during the fourth quarter valued at approximately $32,000. VSM Wealth Advisory LLC purchased a new stake in WSFS Financial in the 4th quarter worth approximately $40,000. AlphaQuest LLC acquired a new position in WSFS Financial in the 4th 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. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Activity at WSFS Financial

In related 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

WSFS Financial Trading Down 0.5 %

WSFS traded down $0.24 during trading on Monday, hitting $53.06. 279,093 shares of the company's stock were exchanged, compared to its average volume of 295,337. WSFS Financial Co. has a 1 year low of $42.21 and a 1 year high of $62.75. The stock has a 50 day moving average price of $50.66 and a 200 day moving average price of $53.65. The firm has a market cap of $3.08 billion, a P/E ratio of 12.00 and a beta of 0.90. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The firm had revenue of $256.11 million during 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 period in the prior year, the firm earned $1.11 EPS. As a group, analysts expect that WSFS Financial Co. will post 4.47 EPS 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. Shareholders of record on Friday, May 9th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio is currently 15.28%.

Wall Street Analysts Forecast Growth

WSFS has been the subject of several recent analyst reports. Stephens restated an "overweight" rating and issued a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods cut 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $62.75.

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.