Bank of America Corp DE lowered its stake in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 966,853 shares of the bank's stock after selling 37,341 shares during the period. Bank of America Corp DE owned 1.64% of WSFS Financial worth $51,369,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in WSFS. Farther Finance Advisors LLC lifted its position in shares of WSFS Financial by 2,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after acquiring an additional 550 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of WSFS Financial in the fourth quarter worth $32,000. VSM Wealth Advisory LLC purchased a new stake in shares of WSFS Financial in the fourth quarter worth $40,000. AlphaQuest LLC purchased a new stake in shares of WSFS Financial in the fourth quarter worth $84,000. Finally, Sterling Capital Management LLC raised its position in shares of WSFS Financial by 804.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock worth $99,000 after buying an additional 1,657 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.
WSFS Financial Price Performance
WSFS traded down $0.44 during trading on Friday, reaching $55.00. The stock had a trading volume of 298,940 shares, compared to its average volume of 299,792. The stock has a market cap of $3.12 billion, a PE ratio of 12.44 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. WSFS Financial Co. has a one year low of $42.21 and a one year high of $62.75. The business has a 50-day moving average of $51.01 and a 200-day moving average of $53.87.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $256.11 million for the quarter, compared to analysts' expectations of $235.44 million. During the same period last year, the firm earned $1.11 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that WSFS Financial Co. will post 4.47 EPS for the current fiscal year.
WSFS Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be paid a dividend of $0.17 per share. 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 1.24%. The ex-dividend date of this dividend is Friday, May 9th. WSFS Financial's dividend payout ratio (DPR) is 15.28%.
Insider Activity
In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. This trade 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 this link. Insiders own 1.10% of the company's stock.
Wall Street Analyst Weigh In
WSFS has been the topic of a number of recent analyst reports. Stephens reiterated an "overweight" rating and issued a $64.00 price objective on shares of WSFS Financial in a research report on Monday, April 28th. Keefe, Bruyette & Woods lowered their price objective on 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $62.75.
Get Our Latest Stock Report on WSFS Financial
About WSFS Financial
(
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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