Earnest Partners LLC Sells 14,733 Shares of WSFS Financial Corporation $WSFS

Earnest Partners LLC reduced its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 8.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,932 shares of the bank’s stock after selling 14,733 shares during the period. Earnest Partners LLC owned about 0.31% of WSFS Financial worth $9,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. First Horizon Corp bought a new stake in shares of WSFS Financial during the 3rd quarter valued at $31,000. EverSource Wealth Advisors LLC raised its holdings in WSFS Financial by 265.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after purchasing an additional 706 shares during the period. GAMMA Investing LLC lifted its position in WSFS Financial by 14.4% during the third quarter. GAMMA Investing LLC now owns 1,939 shares of the bank’s stock valued at $105,000 after purchasing an additional 244 shares in the last quarter. LSV Asset Management purchased a new position in WSFS Financial during the third quarter valued at $129,000. Finally, Nisa Investment Advisors LLC grew its holdings in WSFS Financial by 7.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock valued at $152,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Trading Down 0.3%

Shares of WSFS Financial stock opened at $62.72 on Monday. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $71.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $62.93 and a 200-day moving average price of $57.90. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of 12.30 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company had revenue of $90.08 million during the quarter, compared to analyst estimates of $267.36 million. During the same period in the prior year, the company earned $1.11 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. WSFS Financial’s payout ratio is currently 13.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WSFS. Keefe, Bruyette & Woods upped their price target on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Zacks Research raised shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Piper Sandler raised their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Finally, Stephens reaffirmed an “overweight” rating and set a $71.00 price target (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.58.

Insider Buying and Selling

In related news, EVP James J. Wechsler sold 450 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the completion of the sale, the executive vice president directly owned 5,777 shares in the company, valued at $403,754.53. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur J. Bacci sold 2,005 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $70.51, for a total transaction of $141,372.55. Following the transaction, the executive vice president owned 26,366 shares in the company, valued at $1,859,066.66. This trade represents a 7.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,455 shares of company stock worth $242,923 over the last three months. 1.21% of the stock is owned by insiders.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.