Royce & Associates LP cut its stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 88.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,732 shares of the bank's stock after selling 69,436 shares during the quarter. Royce & Associates LP's holdings in WSFS Financial were worth $464,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in WSFS Financial during the fourth quarter worth $18,167,000. Assenagon Asset Management S.A. boosted its stake in shares of WSFS Financial by 819.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank's stock worth $13,528,000 after acquiring an additional 226,933 shares in the last quarter. Great Lakes Advisors LLC boosted its stake in shares of WSFS Financial by 179.8% during the 4th quarter. Great Lakes Advisors LLC now owns 169,563 shares of the bank's stock worth $9,009,000 after acquiring an additional 108,968 shares in the last quarter. State Street Corp increased its stake in shares of WSFS Financial by 3.0% in the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank's stock valued at $154,519,000 after purchasing an additional 87,781 shares in the last quarter. Finally, Barclays PLC raised its holdings in WSFS Financial by 110.8% in the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank's stock worth $6,139,000 after purchasing an additional 63,284 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.
Insider Transactions at WSFS Financial
In related news, CEO Rodger Levenson sold 7,199 shares of WSFS Financial stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now owns 142,780 shares in the company, valued at approximately $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 can be accessed through this link. Insiders own 1.29% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on WSFS. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $64.00 to $68.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Stephens restated an "overweight" rating and set a $68.00 price objective on shares of WSFS Financial in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $64.75.
Read Our Latest Stock Report on WSFS
WSFS Financial Price Performance
Shares of NASDAQ:WSFS traded up $0.06 during trading on Wednesday, reaching $53.09. The stock had a trading volume of 258,232 shares, compared to its average volume of 266,594. The business has a fifty day moving average price of $54.25 and a 200-day moving average price of $53.91. WSFS Financial Co. has a 1-year low of $41.33 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The stock has a market cap of $3.11 billion, a PE ratio of 12.01 and a beta of 1.06.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. On average, equities analysts forecast that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.
WSFS Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Friday, February 7th. WSFS Financial's dividend payout ratio (DPR) is 13.57%.
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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