Earnest Partners LLC Has $14.67 Million Stake in WSFS Financial Co. (NASDAQ:WSFS)

Earnest Partners LLC trimmed its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 2.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,081 shares of the bank’s stock after selling 9,165 shares during the period. Earnest Partners LLC owned approximately 0.54% of WSFS Financial worth $14,674,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after purchasing an additional 372,402 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of WSFS Financial by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,757,216 shares of the bank’s stock valued at $172,572,000 after purchasing an additional 77,589 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of WSFS Financial by 8.8% in the 4th quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock valued at $132,556,000 after purchasing an additional 232,508 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock valued at $58,379,000 after purchasing an additional 160,090 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of WSFS Financial in the 4th quarter valued at approximately $31,369,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Trading Down 0.5 %

WSFS Financial stock traded down $0.26 during mid-day trading on Monday, hitting $56.60. 375,297 shares of the stock were exchanged, compared to its average volume of 276,037. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.46. WSFS Financial Co. has a 12 month low of $33.12 and a 12 month high of $58.59. The firm’s fifty day simple moving average is $47.25 and its two-hundred day simple moving average is $44.99. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 12.63 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The firm had revenue of $266.00 million during the quarter, compared to analyst estimates of $254.48 million. During the same quarter last year, the business earned $1.16 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Analysts forecast that WSFS Financial Co. will post 4.25 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.15 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. WSFS Financial’s dividend payout ratio is currently 13.39%.

Insider Activity at WSFS Financial

In related news, EVP Stephen P. Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $46.61, for a total transaction of $139,830.00. Following the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WSFS has been the topic of a number of research analyst reports. DA Davidson raised their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler lifted their target price on shares of WSFS Financial from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods lifted their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday. Finally, Stephens lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $59.75.

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.