Toronto Dominion Bank Takes Position in WSFS Financial Co. (NASDAQ:WSFS)
Toronto Dominion Bank purchased a new stake in WSFS Financial Co. (NASDAQ:WSFS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 644 shares of the bank’s stock, valued at approximately $27,000.
Other large investors also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board purchased a new position in WSFS Financial during the 2nd quarter worth $1,528,000. The Manufacturers Life Insurance Company lifted its position in WSFS Financial by 1.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,181,319 shares of the bank’s stock worth $45,599,000 after acquiring an additional 13,676 shares during the period. Salzhauer Michael acquired a new stake in WSFS Financial during the 1st quarter worth about $653,000. Rothschild & Co. Asset Management US Inc. lifted its position in WSFS Financial by 0.8% during the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 259,061 shares of the bank’s stock worth $10,000,000 after acquiring an additional 2,016 shares during the period. Finally, Pzena Investment Management LLC lifted its position in WSFS Financial by 0.8% during the 2nd quarter. Pzena Investment Management LLC now owns 664,397 shares of the bank’s stock worth $27,440,000 after acquiring an additional 5,568 shares during the period. Institutional investors and hedge funds own 80.87% of the company’s stock.
In other WSFS Financial news, EVP Patrick Joseph Ward sold 15,962 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $41.95, for a total transaction of $669,605.90. Following the completion of the sale, the executive vice president now directly owns 115,729 shares in the company, valued at approximately $4,854,831.55. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Turner sold 124,177 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $41.31, for a total value of $5,129,751.87. Following the sale, the director now owns 161,779 shares of the company’s stock, valued at $6,683,090.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,165 shares of company stock valued at $6,157,398. 2.42% of the stock is owned by company insiders.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.13. WSFS Financial had a return on equity of 10.98% and a net margin of 21.06%. The business had revenue of $166.10 million during the quarter, compared to analysts’ expectations of $157.52 million. Equities research analysts expect that WSFS Financial Co. will post 3.63 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.48 annualized dividend and a yield of 1.06%. WSFS Financial’s dividend payout ratio (DPR) is currently 13.52%.
WSFS has been the subject of a number of research reports. Piper Jaffray Companies initiated coverage on WSFS Financial in a research report on Monday, July 15th. They set a “neutral” rating for the company. Zacks Investment Research raised WSFS Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Boenning Scattergood reissued an “outperform” rating and issued a $47.75 price objective on shares of WSFS Financial in a report on Thursday, June 20th. Finally, BidaskClub raised WSFS Financial from a “hold” rating to a “buy” rating in a report on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.38.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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