Wedge Capital Management L L P NC Sells 4,988 Shares of WSFS Financial Co. (NASDAQ:WSFS)

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Wedge Capital Management L L P NC lessened its position in WSFS Financial Co. (NASDAQ:WSFS) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 256,422 shares of the bank’s stock after selling 4,988 shares during the period. Wedge Capital Management L L P NC’s holdings in WSFS Financial were worth $10,590,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WSFS. Corbyn Investment Management Inc. MD purchased a new stake in WSFS Financial during the first quarter valued at about $1,418,000. Bank of America Corp DE boosted its position in WSFS Financial by 7.7% during the fourth quarter. Bank of America Corp DE now owns 158,475 shares of the bank’s stock valued at $6,007,000 after buying an additional 11,326 shares during the period. The Manufacturers Life Insurance Company boosted its position in WSFS Financial by 1.2% during the first quarter. The Manufacturers Life Insurance Company now owns 1,181,319 shares of the bank’s stock valued at $45,599,000 after buying an additional 13,676 shares during the period. Salzhauer Michael purchased a new stake in WSFS Financial during the first quarter valued at about $653,000. Finally, FMR LLC boosted its position in WSFS Financial by 6.3% during the fourth quarter. FMR LLC now owns 1,296,887 shares of the bank’s stock valued at $49,165,000 after buying an additional 76,840 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of WSFS Financial stock traded up $0.44 during trading on Thursday, reaching $41.07. 1,458 shares of the stock were exchanged, compared to its average volume of 291,922. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The stock’s fifty day moving average is $41.08. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 11.54, a price-to-earnings-growth ratio of 1.01 and a beta of 1.12. WSFS Financial Co. has a 1 year low of $33.75 and a 1 year high of $50.60.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, July 22nd. The bank reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.13. The company had revenue of $166.10 million during the quarter, compared to analyst estimates of $157.52 million. WSFS Financial had a net margin of 21.06% and a return on equity of 12.67%. On average, analysts predict that WSFS Financial Co. will post 3.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.17%. WSFS Financial’s dividend payout ratio is currently 13.52%.

Several research firms have issued reports on WSFS. Boenning Scattergood restated an “outperform” rating and set a $47.75 price target on shares of WSFS Financial in a research report on Thursday, June 20th. BidaskClub upgraded shares of WSFS Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 30th. Piper Jaffray Companies began coverage on shares of WSFS Financial in a research report on Monday, July 15th. They set a “neutral” rating for the company. Finally, Zacks Investment Research lowered shares of WSFS Financial from a “hold” rating to a “sell” rating in a research report on Saturday, August 3rd. Three analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. WSFS Financial has a consensus rating of “Hold” and a consensus target price of $49.38.

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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.

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

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