WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its stake in WSFS Financial Co. (NASDAQ:WSFS) by 17.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,107 shares of the bank’s stock after selling 14,264 shares during the period. Wedge Capital Management L L P NC owned approximately 0.11% of WSFS Financial worth $3,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WSFS. Jupiter Asset Management Ltd. purchased a new stake in WSFS Financial during the 1st quarter worth about $1,253,000. BNP Paribas Financial Markets grew its position in shares of WSFS Financial by 51.4% during the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock worth $1,361,000 after buying an additional 10,234 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of WSFS Financial by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after buying an additional 372,402 shares during the period. Texas Permanent School Fund Corp raised its holdings in WSFS Financial by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock valued at $2,392,000 after acquiring an additional 518 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its stake in WSFS Financial by 265.1% in the second quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank’s stock worth $1,117,000 after acquiring an additional 17,254 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by corporate insiders.

WSFS Financial Stock Up 0.0 %

Shares of NASDAQ:WSFS opened at $51.34 on Wednesday. The firm has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $48.13. WSFS Financial Co. has a twelve month low of $33.12 and a twelve month high of $58.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.09 billion, a PE ratio of 11.46 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. WSFS Financial’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. On average, equities analysts predict that WSFS Financial Co. will post 4.31 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.17%. WSFS Financial’s dividend payout ratio is presently 13.39%.

Analyst Upgrades and Downgrades

WSFS has been the topic of a number of recent analyst reports. Piper Sandler increased their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. DA Davidson increased their target price on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Stephens upped their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th.

WSFS Financial Company Profile

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.