The Manufacturers Life Insurance Company Sells 25,265 Shares of WSFS Financial Co. (NASDAQ:WSFS)

The Manufacturers Life Insurance Company lowered its stake in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,348 shares of the bank's stock after selling 25,265 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 1.02% of WSFS Financial worth $30,612,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in WSFS Financial by 27.9% during the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank's stock worth $41,241,000 after buying an additional 191,566 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank's stock valued at $183,450,000 after acquiring an additional 110,279 shares in the last quarter. Denali Advisors LLC bought a new position in WSFS Financial during the second quarter worth $3,436,000. Hantz Financial Services Inc. acquired a new position in WSFS Financial in the second quarter worth $2,664,000. Finally, Royce & Associates LP increased its stake in WSFS Financial by 247.4% during the third quarter. Royce & Associates LP now owns 78,168 shares of the bank's stock valued at $3,986,000 after purchasing an additional 55,668 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

WSFS Financial Stock Performance

WSFS stock traded down $0.41 during mid-day trading on Friday, reaching $60.02. The company had a trading volume of 186,580 shares, compared to its average volume of 308,812. WSFS Financial Co. has a one year low of $37.09 and a one year high of $62.75. The stock has a market capitalization of $3.54 billion, a P/E ratio of 13.70 and a beta of 1.02. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock's 50-day simple moving average is $53.19 and its two-hundred day simple moving average is $50.61.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts' consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. Research analysts anticipate that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.00%. WSFS Financial's payout ratio is 13.70%.

Analysts Set New Price Targets

WSFS has been the topic of a number of recent research reports. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott reissued a "neutral" rating on shares of WSFS Financial in a report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $59.75.

About WSFS Financial

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.