Wedge Capital Management L L P NC Sells 3,729 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Wedge Capital Management L L P NC lessened its position in shares of WSFS Financial Co. (NASDAQ:WSFSGet Rating) by 6.9% in the second quarter, Holdings Channel.com reports. The firm owned 50,644 shares of the bank’s stock after selling 3,729 shares during the period. Wedge Capital Management L L P NC’s holdings in WSFS Financial were worth $2,030,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of WSFS Financial in the 4th quarter valued at about $32,000. Quadrant Capital Group LLC grew its holdings in shares of WSFS Financial by 1,032.3% in the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank’s stock valued at $33,000 after acquiring an additional 640 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of WSFS Financial in the 1st quarter valued at about $40,000. FourThought Financial LLC bought a new position in shares of WSFS Financial in the 1st quarter valued at about $74,000. Finally, Harbor Investment Advisory LLC grew its holdings in shares of WSFS Financial by 43.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock valued at $96,000 after acquiring an additional 621 shares in the last quarter. Institutional investors own 88.34% of the company’s stock.

WSFS Financial Trading Up 0.2 %

Shares of NASDAQ:WSFS opened at $50.82 on Wednesday. WSFS Financial Co. has a 52-week low of $37.03 and a 52-week high of $56.30. The company has a market capitalization of $3.22 billion, a P/E ratio of 15.31 and a beta of 1.10. The company has a 50-day simple moving average of $47.44 and a 200 day simple moving average of $44.52. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76.

WSFS Financial (NASDAQ:WSFSGet Rating) last issued its quarterly earnings data on Monday, July 25th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a net margin of 23.44% and a return on equity of 9.91%. During the same quarter in the prior year, the firm earned $2.00 earnings per share. Sell-side analysts forecast that WSFS Financial Co. will post 4.33 earnings per share for the current year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, August 4th. This is an increase from WSFS Financial’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.18%. WSFS Financial’s dividend payout ratio (DPR) is 18.07%.

Insiders Place Their Bets

In other WSFS Financial news, Director Francis J. Leto sold 3,087 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total transaction of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares in the company, valued at $1,803,352.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Francis J. Leto sold 3,087 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares in the company, valued at $1,803,352.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Richard Wright sold 3,740 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.66, for a total transaction of $185,728.40. Following the completion of the sale, the executive vice president now owns 38,456 shares of the company’s stock, valued at $1,909,724.96. The disclosure for this sale can be found here. Company insiders own 1.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WSFS has been the subject of several analyst reports. DA Davidson raised their price objective on WSFS Financial to $52.00 in a report on Tuesday, August 9th. StockNews.com upgraded shares of WSFS Financial from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of WSFS Financial to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.50.

WSFS Financial Profile

(Get Rating)

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.

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Institutional Ownership by Quarter for WSFS Financial (NASDAQ:WSFS)

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