Frontier Capital Management Co. LLC decreased its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 54.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 432,307 shares of the bank’s stock after selling 517,855 shares during the period. Frontier Capital Management Co. LLC owned 1.37% of WSFS Financial worth $19,865,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in WSFS. Ameritas Investment Partners Inc. bought a new position in WSFS Financial during the first quarter valued at approximately $110,000. Acrospire Investment Management LLC bought a new position in WSFS Financial during the first quarter valued at approximately $111,000. First Mercantile Trust Co. boosted its position in WSFS Financial by 11.3% in the first quarter. First Mercantile Trust Co. now owns 2,650 shares of the bank’s stock valued at $122,000 after buying an additional 270 shares during the last quarter. US Bancorp DE boosted its position in WSFS Financial by 12.7% in the first quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock valued at $151,000 after buying an additional 371 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in WSFS Financial during the first quarter valued at approximately $208,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
WSFS Financial Co. (WSFS) traded up 2.94% during trading on Thursday, reaching $45.45. The company’s stock had a trading volume of 97,173 shares. The stock has a market cap of $1.43 billion, a PE ratio of 21.32 and a beta of 1.22. The company’s 50-day moving average is $45.75 and its 200-day moving average is $45.41. WSFS Financial Co. has a 12 month low of $30.56 and a 12 month high of $50.55.
WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, April 27th. The bank reported $0.59 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. The company had revenue of $81.20 million for the quarter, compared to analysts’ expectations of $80.53 million. WSFS Financial had a return on equity of 10.92% and a net margin of 23.32%. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Equities analysts expect that WSFS Financial Co. will post $2.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 26th. Shareholders of record on Friday, May 12th were given a $0.07 dividend. The ex-dividend date was Wednesday, May 10th. This represents a $0.28 annualized dividend and a yield of 0.62%. WSFS Financial’s dividend payout ratio is currently 13.53%.
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Several research firms have commented on WSFS. Zacks Investment Research cut shares of WSFS Financial from a “buy” rating to a “hold” rating in a research note on Thursday, May 4th. Keefe, Bruyette & Woods lowered shares of WSFS Financial from an “outperform” rating to a “mkt perform” rating in a research report on Tuesday, May 2nd. Finally, DA Davidson started coverage on shares of WSFS Financial in a research report on Monday, March 6th. They set a “buy” rating and a $55.00 price objective for the company.
In other WSFS Financial news, EVP S James Mazarakis sold 4,038 shares of the business’s stock in a transaction on Monday, March 13th. The stock was sold at an average price of $44.95, for a total value of $181,508.10. Following the transaction, the executive vice president now owns 42,639 shares of the company’s stock, valued at $1,916,623.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Francis B. Brake bought 2,700 shares of the stock in a transaction on Tuesday, May 2nd. The stock was purchased at an average price of $46.95 per share, for a total transaction of $126,765.00. Following the completion of the purchase, the director now owns 5,932 shares of the company’s stock, valued at $278,507.40. The disclosure for this purchase can be found here. In the last three months, insiders sold 11,501 shares of company stock worth $517,195. Insiders own 4.17% of the company’s stock.
About WSFS Financial
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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