Tower Research Capital LLC TRC Trims Position in WSFS Financial Co. (NASDAQ:WSFS)

Tower Research Capital LLC TRC lowered its holdings in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 62.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,918 shares of the bank's stock after selling 4,802 shares during the period. Tower Research Capital LLC TRC's holdings in WSFS Financial were worth $155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of WSFS Financial by 309.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank's stock worth $89,674,000 after buying an additional 1,276,078 shares during the period. Cooke & Bieler LP grew its position in shares of WSFS Financial by 1.5% in the 4th quarter. Cooke & Bieler LP now owns 782,767 shares of the bank's stock worth $41,588,000 after buying an additional 11,414 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of WSFS Financial by 2.7% during 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 period. Norges Bank bought a new position in WSFS Financial in the 4th quarter worth $32,775,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of WSFS Financial in the 4th quarter worth about $18,167,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WSFS shares. Keefe, Bruyette & Woods reduced 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 report on Monday, April 28th. Stephens reissued an "overweight" rating and issued a $64.00 target price on shares of WSFS Financial in a research report on Monday, April 28th. Three research 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, the company presently has a consensus rating of "Hold" and a consensus target price of $62.75.

WSFS Financial Stock Performance

NASDAQ WSFS traded down $0.56 during trading hours on Friday, hitting $53.35. 299,322 shares of the company's stock traded hands, compared to its average volume of 296,243. The business's fifty day moving average price is $50.64 and its two-hundred day moving average price is $53.69. 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 Co. has a 52 week low of $42.21 and a 52 week high of $62.75. The firm has a market capitalization of $3.09 billion, a P/E ratio of 12.07 and a beta of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $256.11 million during the quarter, compared to analysts' expectations of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. WSFS Financial's quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $1.11 earnings per share. Equities research analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be issued a $0.17 dividend. 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.27%. WSFS Financial's dividend payout ratio is presently 15.28%.

Insiders Place Their Bets

In other news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares of the company's stock, valued at approximately $7,881,456. This represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company's stock.

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.