Comerica Bank Sells 7,134 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Comerica Bank reduced its position in shares of WSFS Financial Co. (NASDAQ:WSFSGet Rating) by 10.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,482 shares of the bank’s stock after selling 7,134 shares during the period. Comerica Bank’s holdings in WSFS Financial were worth $3,070,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of WSFS Financial by 34.8% during the 1st quarter. BlackRock Inc. now owns 9,464,621 shares of the bank’s stock worth $441,240,000 after buying an additional 2,442,621 shares during the period. Vanguard Group Inc. boosted its holdings in shares of WSFS Financial by 16.2% during the 1st quarter. Vanguard Group Inc. now owns 7,112,476 shares of the bank’s stock worth $331,584,000 after buying an additional 992,425 shares during the period. State Street Corp boosted its holdings in shares of WSFS Financial by 29.1% during the 1st quarter. State Street Corp now owns 2,878,509 shares of the bank’s stock worth $134,196,000 after buying an additional 648,867 shares during the period. Macquarie Group Ltd. boosted its holdings in WSFS Financial by 6.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,463,018 shares of the bank’s stock valued at $98,758,000 after purchasing an additional 158,452 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in WSFS Financial by 52.8% in the 2nd quarter. Franklin Resources Inc. now owns 2,044,765 shares of the bank’s stock valued at $81,975,000 after purchasing an additional 706,926 shares during the period. 88.10% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Patrick Joseph Ward sold 1,305 shares of the firm’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total value of $60,525.90. Following the transaction, the executive vice president now owns 140,881 shares of the company’s stock, valued at approximately $6,534,060.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Patrick Joseph Ward sold 1,305 shares of WSFS Financial stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total transaction of $60,525.90. Following the transaction, the executive vice president now owns 140,881 shares of the company’s stock, valued at approximately $6,534,060.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francis J. Leto sold 10,388 shares of WSFS Financial stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $46.57, for a total transaction of $483,769.16. Following the transaction, the director now directly owns 9,753 shares in the company, valued at approximately $454,197.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,638 shares of company stock valued at $927,562. 1.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WSFS shares. Janney Montgomery Scott started coverage on shares of WSFS Financial in a report on Wednesday, November 30th. They issued a “buy” rating and a $57.00 price target for the company. StockNews.com started coverage on shares of WSFS Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $54.75.

WSFS Financial Trading Up 1.0 %

Shares of WSFS Financial stock opened at $48.69 on Tuesday. The stock has a market capitalization of $3.00 billion, a P/E ratio of 14.58 and a beta of 1.02. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $46.73 and a 200 day simple moving average of $46.81. WSFS Financial Co. has a 12-month low of $37.03 and a 12-month high of $56.30.

WSFS Financial (NASDAQ:WSFSGet Rating) last posted its quarterly earnings data on Monday, October 24th. The bank reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). The company had revenue of $176.80 million during the quarter, compared to analyst estimates of $175.59 million. WSFS Financial had a net margin of 22.99% and a return on equity of 10.64%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.19 EPS. Research analysts expect that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, November 3rd. WSFS Financial’s dividend payout ratio (DPR) is presently 17.96%.

WSFS Financial Company 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.

Further Reading

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

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