WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 469,449 shares of the bank's stock after selling 22,542 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.80% of WSFS Financial worth $24,942,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WSFS. Handelsbanken Fonder AB boosted its holdings in shares of WSFS Financial by 11.4% in the fourth quarter. Handelsbanken Fonder AB now owns 13,705 shares of the bank's stock valued at $728,000 after acquiring an additional 1,400 shares during the period. New York State Common Retirement Fund boosted its stake in WSFS Financial by 3.0% during the 4th quarter. New York State Common Retirement Fund now owns 250,058 shares of the bank's stock worth $13,286,000 after purchasing an additional 7,293 shares during the period. Principal Financial Group Inc. grew its position in WSFS Financial by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock worth $16,856,000 after purchasing an additional 10,915 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in WSFS Financial by 10.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,926 shares of the bank's stock worth $12,110,000 after purchasing an additional 21,990 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB increased its stake in WSFS Financial by 2.7% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 59,136 shares of the bank's stock valued at $3,142,000 after purchasing an additional 1,578 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

WSFS has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $64.00 to $68.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. Stephens reiterated an "overweight" rating and issued a $68.00 target price on shares of WSFS Financial in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $64.75.

WSFS Financial Stock Performance

NASDAQ WSFS traded up $0.04 during trading hours on Thursday, hitting $50.61. 345,806 shares of the stock were exchanged, compared to its average volume of 270,160. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 11.45 and a beta of 1.06. WSFS Financial Co. has a 12-month low of $40.99 and a 12-month high of $62.75. The stock has a 50-day moving average of $54.29 and a 200 day moving average of $53.99.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued 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 return on equity of 10.30% and a net margin of 18.77%. As a group, equities research analysts forecast that WSFS Financial Co. will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $0.15 per share. The ex-dividend date was Friday, February 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.19%. WSFS Financial's payout ratio is currently 13.57%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at approximately $7,881,456. This 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. Corporate insiders own 1.21% of the company's stock.

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.