WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Comerica Bank

Comerica Bank trimmed its position in shares of WSFS Financial Co. (NASDAQ:WSFSGet Rating) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,482 shares of the bank’s stock after selling 7,134 shares during the period. Comerica Bank owned 0.10% of WSFS Financial worth $3,070,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in shares of WSFS Financial in the 2nd quarter worth approximately $40,000. EverSource Wealth Advisors LLC lifted its stake in shares of WSFS Financial by 253.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,366 shares of the bank’s stock worth $55,000 after acquiring an additional 980 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in shares of WSFS Financial in the 2nd quarter worth approximately $70,000. First Horizon Advisors Inc. acquired a new stake in shares of WSFS Financial in the 2nd quarter worth approximately $133,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of WSFS Financial in the 2nd quarter worth approximately $152,000. 88.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rodger Levenson sold 7,945 shares of the business’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $48.24, for a total transaction of $383,266.80. Following the sale, the chief executive officer now owns 130,369 shares in the company, valued at $6,289,000.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other WSFS Financial news, EVP Patrick Joseph Ward sold 1,305 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total value of $60,525.90. Following the transaction, the executive vice president now owns 140,881 shares in the company, valued at approximately $6,534,060.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rodger Levenson sold 7,945 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $48.24, for a total transaction of $383,266.80. Following the completion of the transaction, the chief executive officer now owns 130,369 shares in the company, valued at approximately $6,289,000.56. The disclosure for this sale can be found here. Insiders have sold 19,638 shares of company stock worth $927,562 over the last 90 days. 1.73% of the stock is owned by company insiders.

Analyst Ratings Changes

WSFS has been the subject of several recent research reports. StockNews.com initiated coverage on shares of WSFS Financial in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Janney Montgomery Scott initiated coverage on shares of WSFS Financial in a research note on Wednesday, November 30th. They set a “buy” rating and a $57.00 target price for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, WSFS Financial presently has an average rating of “Hold” and a consensus target price of $54.75.

WSFS Financial Stock Up 1.0 %

WSFS stock opened at $48.69 on Tuesday. WSFS Financial Co. has a 12 month low of $37.03 and a 12 month high of $56.30. The firm has a 50 day simple moving average of $46.73 and a 200 day simple moving average of $46.81. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $3.00 billion, a PE ratio of 14.58 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFSGet Rating) last released its quarterly earnings results on Monday, October 24th. The bank reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.03). WSFS Financial had a net margin of 22.99% and a return on equity of 10.64%. The firm had revenue of $176.80 million for the quarter, compared to analyst estimates of $175.59 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm’s revenue was up 69.2% compared to the same quarter last year. Equities research analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Stockholders of record on Friday, November 4th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.23%. WSFS Financial’s dividend payout ratio is currently 17.96%.

WSFS Financial Profile

(Get Rating)

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.

Further Reading

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

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