The Manufacturers Life Insurance Company Has $30.61 Million Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

The Manufacturers Life Insurance Company decreased its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,348 shares of the bank’s stock after selling 25,265 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in WSFS Financial were worth $30,612,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new position in WSFS Financial during the third quarter worth $792,000. Fisher Asset Management LLC increased its stake in shares of WSFS Financial by 20.1% during the 3rd quarter. Fisher Asset Management LLC now owns 220,000 shares of the bank’s stock worth $11,218,000 after purchasing an additional 36,798 shares during the last quarter. Champlain Investment Partners LLC increased its stake in shares of WSFS Financial by 1.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock worth $66,287,000 after purchasing an additional 14,792 shares during the last quarter. Citigroup Inc. raised its holdings in shares of WSFS Financial by 17.8% in the 3rd quarter. Citigroup Inc. now owns 105,232 shares of the bank’s stock valued at $5,366,000 after purchasing an additional 15,881 shares during the period. Finally, Eagle Asset Management Inc. lifted its stake in WSFS Financial by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 255,452 shares of the bank’s stock valued at $14,295,000 after purchasing an additional 3,861 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WSFS shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Trading Down 0.7 %

Shares of NASDAQ:WSFS opened at $60.02 on Friday. WSFS Financial Co. has a 12-month low of $37.09 and a 12-month high of $62.75. The business has a 50 day moving average of $53.04 and a 200-day moving average of $50.52. 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 has a market cap of $3.54 billion, a PE ratio of 13.70 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. During the same period in the previous year, the company posted $1.23 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

WSFS Financial 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.