WSFS Financial Corporation (WSFS) Stake Boosted by Vanguard Group Inc.
Vanguard Group Inc. lifted its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,307,153 shares of the bank’s stock after purchasing an additional 59,876 shares during the quarter. Vanguard Group Inc. owned 4.16% of WSFS Financial Corporation worth $59,280,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp boosted its position in shares of WSFS Financial Corporation by 7.5% during the second quarter. Northern Trust Corp now owns 1,074,688 shares of the bank’s stock worth $48,738,000 after purchasing an additional 75,082 shares in the last quarter. Penn Capital Management Co. Inc. lifted its position in WSFS Financial Corporation by 9.2% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 302,933 shares of the bank’s stock valued at $13,760,000 after acquiring an additional 25,573 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in WSFS Financial Corporation by 75.4% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 12,474 shares of the bank’s stock valued at $566,000 after acquiring an additional 5,362 shares in the last quarter. New York State Common Retirement Fund lifted its position in WSFS Financial Corporation by 1.5% in the 2nd quarter. New York State Common Retirement Fund now owns 153,023 shares of the bank’s stock valued at $6,940,000 after acquiring an additional 2,299 shares in the last quarter. Finally, Columbia Partners L L C Investment Management bought a new stake in WSFS Financial Corporation in the 2nd quarter valued at $327,000. 78.47% of the stock is currently owned by institutional investors.
Several equities research analysts recently commented on the stock. Boenning Scattergood reaffirmed a “buy” rating on shares of WSFS Financial Corporation in a research report on Wednesday, October 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of WSFS Financial Corporation in a research report on Tuesday, October 24th. Finally, BidaskClub cut shares of WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. WSFS Financial Corporation presently has an average rating of “Hold” and an average target price of $51.33.
WSFS Financial Corporation (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 23rd. The bank reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). WSFS Financial Corporation had a net margin of 21.27% and a return on equity of 11.07%. The business had revenue of $87.80 million during the quarter, compared to the consensus estimate of $56.86 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 16.2% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from WSFS Financial Corporation’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Monday, November 6th. WSFS Financial Corporation’s dividend payout ratio (DPR) is 11.52%.
In other news, EVP Peggy H. Eddens sold 8,580 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $44.29, for a total value of $380,008.20. Following the completion of the sale, the executive vice president now owns 27,659 shares in the company, valued at $1,225,017.11. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP S James Mazarakis sold 7,161 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $44.86, for a total transaction of $321,242.46. Following the completion of the sale, the executive vice president now owns 48,288 shares of the company’s stock, valued at approximately $2,166,199.68. The disclosure for this sale can be found here. Insiders sold 16,240 shares of company stock worth $723,172 over the last ninety days. Insiders own 4.89% of the company’s stock.
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WSFS Financial Corporation Profile
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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