Aberdeen Group plc Cuts Stake in WSFS Financial Corporation $WSFS

Aberdeen Group plc trimmed its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 16.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 440,936 shares of the bank’s stock after selling 83,905 shares during the quarter. Aberdeen Group plc’s holdings in WSFS Financial were worth $24,251,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWM LLC grew its position in WSFS Financial by 72.7% during the 1st quarter. CWM LLC now owns 701 shares of the bank’s stock valued at $36,000 after purchasing an additional 295 shares during the last quarter. Farther Finance Advisors LLC grew its position in WSFS Financial by 618.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank’s stock valued at $69,000 after purchasing an additional 1,076 shares during the last quarter. GAMMA Investing LLC grew its position in WSFS Financial by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank’s stock valued at $106,000 after purchasing an additional 550 shares during the last quarter. KBC Group NV grew its position in WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank’s stock valued at $160,000 after purchasing an additional 196 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in WSFS Financial during the 1st quarter valued at about $204,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Trading Up 2.7%

WSFS Financial stock opened at $53.00 on Tuesday. The firm has a 50 day moving average of $55.54 and a 200 day moving average of $54.06. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 11.62 and a beta of 0.86. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $62.75. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share (EPS) for the quarter. The company had revenue of $161.68 million during the quarter. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. As a group, research analysts predict that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 8th. WSFS Financial’s dividend payout ratio is currently 14.91%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WSFS shares. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, October 8th. DA Davidson upped their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Finally, TD Cowen started coverage on shares of WSFS Financial in a research note on Thursday, September 25th. They set a “buy” rating and a $67.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, WSFS Financial currently has an average rating of “Moderate Buy” and an average target price of $66.25.

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.