Quaker Capital Investments LLC lowered its position in WSFS Financial Corporation (NASDAQ:WSFS) by 31.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 11,000 shares of the bank’s stock after selling 5,000 shares during the period. WSFS Financial Corporation makes up about 0.2% of Quaker Capital Investments LLC’s investment portfolio, making the stock its 20th largest position. Quaker Capital Investments LLC’s holdings in WSFS Financial Corporation were worth $505,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in shares of WSFS Financial Corporation by 6.0% in the fourth quarter. State Street Corp now owns 531,466 shares of the bank’s stock worth $24,635,000 after buying an additional 30,036 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of WSFS Financial Corporation during the first quarter worth $7,887,000. Dimensional Fund Advisors LP boosted its position in shares of WSFS Financial Corporation by 5.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,162,149 shares of the bank’s stock worth $53,866,000 after buying an additional 62,374 shares in the last quarter. Comerica Bank boosted its position in shares of WSFS Financial Corporation by 232.6% in the fourth quarter. Comerica Bank now owns 46,102 shares of the bank’s stock worth $2,088,000 after buying an additional 32,239 shares during the period. Finally, Aberdeen Asset Management PLC UK boosted its position in shares of WSFS Financial Corporation by 24.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,193,790 shares of the bank’s stock worth $55,332,000 after buying an additional 231,905 shares during the period. Hedge funds and other institutional investors own 78.30% of the company’s stock.
Shares of WSFS Financial Corporation (WSFS) traded down 1.09% during midday trading on Tuesday, hitting $45.45. The stock had a trading volume of 38,167 shares. WSFS Financial Corporation has a 52-week low of $30.56 and a 52-week high of $50.55. The firm’s 50 day moving average price is $45.38 and its 200 day moving average price is $45.64. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 21.32 and a beta of 1.21.
WSFS Financial Corporation (NASDAQ:WSFS) last issued its earnings results on Thursday, April 27th. The bank reported $0.59 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.59. The business had revenue of $81.20 million for the quarter, compared to the consensus estimate of $80.53 million. WSFS Financial Corporation had a net margin of 20.09% and a return on equity of 10.14%. During the same period in the previous year, the company earned $0.53 earnings per share. On average, equities research analysts expect that WSFS Financial Corporation will post $2.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, May 26th. Investors of record on Friday, May 12th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, May 10th. This represents a $0.28 dividend on an annualized basis and a yield of 0.61%. WSFS Financial Corporation’s payout ratio is 13.08%.
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WSFS has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $50.00 target price on shares of WSFS Financial Corporation in a research note on Monday, May 1st. Zacks Investment Research upgraded WSFS Financial Corporation from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, May 3rd. BidaskClub upgraded WSFS Financial Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, DA Davidson initiated coverage on WSFS Financial Corporation in a research note on Monday, March 6th. They issued a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.67.
In related news, EVP S James Mazarakis sold 2,202 shares of the business’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $44.50, for a total transaction of $97,989.00. Following the transaction, the executive vice president now directly owns 43,828 shares in the company, valued at $1,950,346. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Peggy H. Eddens sold 4,911 shares of the business’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $45.08, for a total transaction of $221,387.88. Following the transaction, the executive vice president now owns 23,990 shares in the company, valued at $1,081,469.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,519 shares of company stock worth $662,239. 4.89% of the stock is owned by corporate insiders.
About WSFS Financial Corporation
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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