Pzena Investment Management LLC Trims Position in WSFS Financial Co. (NASDAQ:WSFS)

Pzena Investment Management LLC trimmed its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 790,584 shares of the bank’s stock after selling 25,886 shares during the period. Pzena Investment Management LLC’s holdings in WSFS Financial were worth $42,004,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Los Angeles Capital Management LLC raised its holdings in WSFS Financial by 73.6% during the third quarter. Los Angeles Capital Management LLC now owns 13,560 shares of the bank’s stock worth $691,000 after purchasing an additional 5,750 shares in the last quarter. Victory Capital Management Inc. raised its holdings in WSFS Financial by 30.6% during the third quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock worth $1,875,000 after purchasing an additional 8,617 shares in the last quarter. CIBC Asset Management Inc purchased a new position in WSFS Financial during the third quarter worth about $202,000. Royce & Associates LP raised its holdings in WSFS Financial by 247.4% during the third quarter. Royce & Associates LP now owns 78,168 shares of the bank’s stock worth $3,986,000 after purchasing an additional 55,668 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC purchased a new position in WSFS Financial during the third quarter worth about $718,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on WSFS shares. Keefe, Bruyette & Woods increased their price target on shares of WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Stephens reissued an “overweight” rating and set a $68.00 price target on shares of WSFS Financial in a report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, WSFS Financial presently has an average rating of “Hold” and a consensus target price of $64.75.

Insider Activity

In other news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. This represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.29% of the company’s stock.

WSFS Financial Trading Down 3.7 %

Shares of WSFS opened at $50.54 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $54.46 and its two-hundred day moving average is $54.06. WSFS Financial Co. has a twelve month low of $40.99 and a twelve month high of $62.75. The firm has a market capitalization of $2.96 billion, a P/E ratio of 11.43 and a beta of 1.06.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. On average, research analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal 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 of this dividend was Friday, February 7th. This represents a $0.60 annualized dividend and a yield of 1.19%. WSFS Financial’s payout ratio is currently 13.57%.

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.