Columbia Partners L L C Investment Management Buys Shares of 7,219 WSFS Financial Corporation (WSFS)
Columbia Partners L L C Investment Management bought a new position in WSFS Financial Corporation (NASDAQ:WSFS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,219 shares of the bank’s stock, valued at approximately $327,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameritas Investment Partners Inc. acquired a new stake in WSFS Financial Corporation in the first quarter worth $110,000. Oppenheimer Asset Management Inc. acquired a new stake in WSFS Financial Corporation in the first quarter worth $145,000. US Bancorp DE increased its position in WSFS Financial Corporation by 12.7% in the first quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock worth $151,000 after buying an additional 371 shares during the period. Victory Capital Management Inc. increased its position in WSFS Financial Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock worth $180,000 after buying an additional 596 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in WSFS Financial Corporation by 601.4% in the second quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock worth $182,000 after buying an additional 3,434 shares during the period. 78.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WSFS Financial Corporation (WSFS) opened at 45.75 on Thursday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 20.94 and a beta of 1.20. WSFS Financial Corporation has a 12 month low of $31.90 and a 12 month high of $50.55. The firm has a 50-day moving average price of $44.29 and a 200 day moving average price of $45.30.
WSFS Financial Corporation (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. The business had revenue of $54.31 million for the quarter, compared to analyst estimates of $54.83 million. WSFS Financial Corporation had a return on equity of 10.44% and a net margin of 19.96%. WSFS Financial Corporation’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. On average, analysts anticipate that WSFS Financial Corporation will post $2.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.61%. The ex-dividend date was Wednesday, August 9th. WSFS Financial Corporation’s dividend payout ratio is 12.73%.
In related news, EVP Peggy H. Eddens sold 8,580 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $44.29, for a total value of $380,008.20. Following the sale, the executive vice president now owns 27,659 shares of the company’s stock, valued at approximately $1,225,017.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP S James Mazarakis sold 7,161 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $44.86, for a total value of $321,242.46. Following the completion of the sale, the executive vice president now directly owns 48,288 shares in the company, valued at approximately $2,166,199.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,240 shares of company stock worth $723,172. 4.89% of the stock is owned by insiders.
Several equities research analysts have weighed in on the company. BidaskClub raised WSFS Financial Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Boenning Scattergood reaffirmed a “buy” rating and issued a $49.00 target price on shares of WSFS Financial Corporation in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $51.75.
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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