Wedge Capital Management L L P NC Reduces Holdings in WSFS Financial Corporation $WSFS

Wedge Capital Management L L P NC trimmed its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 2.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,747 shares of the bank’s stock after selling 942 shares during the quarter. Wedge Capital Management L L P NC owned 0.07% of WSFS Financial worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of WSFS. Boston Partners purchased a new position in WSFS Financial during the first quarter worth $17,668,000. Nuveen LLC purchased a new stake in shares of WSFS Financial during the first quarter valued at $12,090,000. Cooke & Bieler LP boosted its stake in shares of WSFS Financial by 14.0% during the first quarter. Cooke & Bieler LP now owns 892,286 shares of the bank’s stock valued at $46,283,000 after purchasing an additional 109,519 shares during the period. GAMMA Investing LLC boosted its stake in shares of WSFS Financial by 7,004.2% during the first quarter. GAMMA Investing LLC now owns 105,711 shares of the bank’s stock valued at $5,483,000 after purchasing an additional 104,223 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of WSFS Financial by 579.0% during the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after purchasing an additional 100,171 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Performance

WSFS opened at $55.43 on Monday. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $62.75. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.10 billion, a P/E ratio of 12.16 and a beta of 0.91. The firm’s 50-day moving average price is $56.44 and its 200-day moving average price is $53.83.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.14. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The firm had revenue of $267.50 million for the quarter, compared to the consensus estimate of $221.93 million. During the same quarter in the prior year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, August 8th. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. WSFS Financial’s dividend payout ratio is 14.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WSFS shares. DA Davidson boosted 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. Wall Street Zen lowered shares of WSFS Financial from a “hold” rating to a “sell” rating in a research note on Friday, May 30th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.00.

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. 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.