Wedge Capital Management L L P NC lessened its position in WSFS Financial Co. (NASDAQ:WSFS) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 256,422 shares of the bank’s stock after selling 4,988 shares during the quarter. Wedge Capital Management L L P NC owned 0.48% of WSFS Financial worth $10,590,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its holdings in WSFS Financial by 7.7% during the 4th quarter. Bank of America Corp DE now owns 158,475 shares of the bank’s stock worth $6,007,000 after purchasing an additional 11,326 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of WSFS Financial by 7.0% in the 4th quarter. Legal & General Group Plc now owns 13,185 shares of the bank’s stock worth $500,000 after buying an additional 868 shares during the last quarter. FMR LLC boosted its stake in shares of WSFS Financial by 6.3% in the 4th quarter. FMR LLC now owns 1,296,887 shares of the bank’s stock worth $49,165,000 after buying an additional 76,840 shares during the last quarter. Norges Bank purchased a new position in shares of WSFS Financial in the 4th quarter worth approximately $9,674,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of WSFS Financial in the 1st quarter worth approximately $50,000. Hedge funds and other institutional investors own 78.38% of the company’s stock.
WSFS Financial stock traded up $0.44 during trading on Thursday, hitting $41.07. The stock had a trading volume of 1,458 shares, compared to its average volume of 291,922. WSFS Financial Co. has a 1 year low of $33.75 and a 1 year high of $50.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 0.96. The company’s 50 day moving average price is $41.08. The firm has a market cap of $2.22 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Investors of record on Thursday, August 8th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.48 annualized dividend and a yield of 1.17%. WSFS Financial’s payout ratio is 13.52%.
A number of equities analysts have recently weighed in on WSFS shares. Boenning Scattergood restated an “outperform” rating and issued a $47.75 target price on shares of WSFS Financial in a research note on Thursday, June 20th. BidaskClub upgraded WSFS Financial from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 30th. Zacks Investment Research downgraded WSFS Financial from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Finally, Piper Jaffray Companies initiated coverage on WSFS Financial in a research note on Monday, July 15th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $49.38.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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