Comerica Bank trimmed its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,079 shares of the bank’s stock after selling 7,237 shares during the period. Comerica Bank’s holdings in WSFS Financial were worth $2,859,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. California Public Employees Retirement System lifted its holdings in WSFS Financial by 52.9% in the 3rd quarter. California Public Employees Retirement System now owns 114,910 shares of the bank’s stock valued at $5,068,000 after purchasing an additional 39,776 shares in the last quarter. BB&T Securities LLC lifted its holdings in WSFS Financial by 4.3% in the 3rd quarter. BB&T Securities LLC now owns 7,207 shares of the bank’s stock valued at $318,000 after purchasing an additional 300 shares in the last quarter. Rhumbline Advisers lifted its holdings in WSFS Financial by 7.4% in the 3rd quarter. Rhumbline Advisers now owns 84,729 shares of the bank’s stock valued at $3,737,000 after purchasing an additional 5,854 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in WSFS Financial in the 3rd quarter valued at about $3,484,000. Finally, Strs Ohio lifted its holdings in WSFS Financial by 81.8% in the 3rd quarter. Strs Ohio now owns 2,000 shares of the bank’s stock valued at $88,000 after purchasing an additional 900 shares in the last quarter. 80.92% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on WSFS shares. Keefe, Bruyette & Woods lowered shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $46.00 target price on the stock. in a report on Wednesday, October 23rd. Zacks Investment Research restated a “hold” rating on shares of WSFS Financial in a report on Saturday, October 26th. ValuEngine lowered shares of WSFS Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 5th. Piper Jaffray Companies started coverage on shares of WSFS Financial in a report on Monday, July 15th. They issued a “neutral” rating on the stock. Finally, BidaskClub lowered shares of WSFS Financial from a “buy” rating to a “hold” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $48.25.
In other news, Director Mark A. Turner sold 124,177 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $41.31, for a total transaction of $5,129,751.87. Following the transaction, the director now directly owns 161,779 shares in the company, valued at approximately $6,683,090.49. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Richard Wright sold 8,026 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $44.61, for a total transaction of $358,039.86. Following the transaction, the executive vice president now owns 60,851 shares in the company, valued at $2,714,563.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,165 shares of company stock worth $6,157,398. Insiders own 2.42% of the company’s stock.
Shares of WSFS stock opened at $44.44 on Tuesday. The firm has a market cap of $2.33 billion, a P/E ratio of 12.52 and a beta of 1.09. WSFS Financial Co. has a 1-year low of $33.75 and a 1-year high of $46.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50-day simple moving average is $43.65 and its 200-day simple moving average is $42.18.
WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.98 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.07. The business had revenue of $183.18 million for the quarter, compared to analyst estimates of $158.75 million. WSFS Financial had a net margin of 20.56% and a return on equity of 11.13%. Analysts expect that WSFS Financial Co. will post 3.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. WSFS Financial’s payout ratio is currently 13.52%.
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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