Credit Suisse AG lowered its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 29.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 36,999 shares of the bank’s stock after selling 15,274 shares during the period. Credit Suisse AG owned about 0.12% of WSFS Financial Corporation worth $1,700,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new position in shares of WSFS Financial Corporation during the first quarter worth $110,000. Acrospire Investment Management LLC acquired a new position in shares of WSFS Financial Corporation during the first quarter worth $111,000. First Mercantile Trust Co. increased its position in shares of WSFS Financial Corporation by 11.3% in the first quarter. First Mercantile Trust Co. now owns 2,650 shares of the bank’s stock worth $122,000 after buying an additional 270 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in WSFS Financial Corporation during the first quarter worth about $145,000. Finally, US Bancorp DE boosted its stake in WSFS Financial Corporation by 12.7% in the first quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock worth $151,000 after buying an additional 371 shares during the last quarter. Institutional investors and hedge funds own 78.32% of the company’s stock.
WSFS Financial Corporation (NASDAQ WSFS) traded down 1.81% during mid-day trading on Friday, reaching $43.30. The company had a trading volume of 103,614 shares. WSFS Financial Corporation has a 12 month low of $31.90 and a 12 month high of $50.55. The firm’s 50-day moving average price is $45.34 and its 200-day moving average price is $45.56. The stock has a market cap of $1.36 billion, a PE ratio of 19.82 and a beta of 1.19.
WSFS Financial Corporation (NASDAQ:WSFS) last released its earnings results on Thursday, July 27th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. The firm had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $54.83 million. WSFS Financial Corporation had a return on equity of 10.44% and a net margin of 19.96%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. Equities research analysts forecast that WSFS Financial Corporation will post $2.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, August 9th. WSFS Financial Corporation’s dividend payout ratio (DPR) is presently 12.73%.
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A number of analysts recently issued reports on WSFS shares. Zacks Investment Research raised WSFS Financial Corporation from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, May 3rd. Boenning Scattergood reissued a “buy” rating and set a $49.00 price objective on shares of WSFS Financial Corporation in a research report on Friday, July 28th. BidaskClub cut WSFS Financial Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $50.00 price objective on shares of WSFS Financial Corporation in a research report on Monday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $51.75.
In other WSFS Financial Corporation news, EVP Paul S. Greenplate sold 7,056 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $46.28, for a total transaction of $326,551.68. Following the completion of the transaction, the executive vice president now owns 10,535 shares in the company, valued at approximately $487,559.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Peggy H. Eddens sold 4,911 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $45.08, for a total value of $221,387.88. Following the transaction, the executive vice president now owns 23,990 shares of the company’s stock, valued at approximately $1,081,469.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,169 shares of company stock valued at $645,929. Corporate insiders own 4.89% of the company’s stock.
About WSFS Financial Corporation
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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