Earnest Partners LLC Sells 9,165 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Earnest Partners LLC reduced its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 2.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 325,081 shares of the bank’s stock after selling 9,165 shares during the quarter. Earnest Partners LLC’s holdings in WSFS Financial were worth $14,674,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WSFS. Mutual Advisors LLC bought a new position in shares of WSFS Financial during the 4th quarter valued at approximately $233,000. Raymond James & Associates grew its stake in shares of WSFS Financial by 9.2% during the 4th quarter. Raymond James & Associates now owns 104,803 shares of the bank’s stock valued at $4,814,000 after acquiring an additional 8,796 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of WSFS Financial by 169.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 205,025 shares of the bank’s stock valued at $9,417,000 after acquiring an additional 128,834 shares during the period. AlphaMark Advisors LLC bought a new position in shares of WSFS Financial during the 4th quarter valued at approximately $303,000. Finally, International Assets Investment Management LLC grew its stake in shares of WSFS Financial by 1,032.9% during the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after acquiring an additional 754 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Transactions at WSFS Financial

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

WSFS Financial Price Performance

NASDAQ WSFS traded down $0.26 during trading hours on Monday, reaching $56.60. The company’s stock had a trading volume of 375,297 shares, compared to its average volume of 276,037. The firm’s 50-day moving average price is $47.25 and its 200-day moving average price is $44.99. 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 1 year low of $33.12 and a 1 year high of $58.59. The company 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 posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts predict that WSFS Financial Co. will post 4.25 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

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.