WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 3.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 966,853 shares of the bank’s stock after selling 37,341 shares during the period. Bank of America Corp DE’s holdings in WSFS Financial were worth $51,369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSFS. Barclays PLC increased its stake in WSFS Financial by 110.8% during the third quarter. Barclays PLC now owns 120,397 shares of the bank’s stock valued at $6,139,000 after purchasing an additional 63,284 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of WSFS Financial by 819.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock worth $13,528,000 after acquiring an additional 226,933 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in WSFS Financial during the fourth quarter valued at about $207,000. KBC Group NV grew its stake in WSFS Financial by 68.4% during the 4th quarter. KBC Group NV now owns 2,885 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,172 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of WSFS Financial by 2.7% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 59,136 shares of the bank’s stock valued at $3,142,000 after acquiring an additional 1,578 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSFS has been the topic of several recent research reports. Stephens restated an “overweight” rating and set a $64.00 target price on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on shares of WSFS Financial from $66.00 to $64.00 and set a “market perform” rating on the stock in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, WSFS Financial presently has an average rating of “Hold” and an average target price of $62.75.

Insider Activity

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of WSFS Financial stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the sale, the chief executive officer now owns 142,780 shares of the company’s stock, valued at $7,881,456. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $55.09 on Wednesday. The firm has a fifty day moving average of $50.76 and a two-hundred day moving average of $53.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.46 and a beta of 0.86. WSFS Financial Co. has a 52 week low of $42.21 and a 52 week high of $62.75.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The business had revenue of $256.11 million during the quarter, compared to the consensus estimate of $235.44 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, May 9th. WSFS Financial’s dividend payout ratio (DPR) is currently 15.28%.

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.