BNP Paribas Financial Markets Reduces Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

BNP Paribas Financial Markets reduced its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 47.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,557 shares of the bank’s stock after selling 11,369 shares during the period. BNP Paribas Financial Markets’ holdings in WSFS Financial were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in shares of WSFS Financial by 2,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock worth $30,000 after acquiring an additional 550 shares during the last quarter. Crowley Wealth Management Inc. purchased a new stake in WSFS Financial during the 4th quarter worth approximately $32,000. VSM Wealth Advisory LLC acquired a new position in WSFS Financial during the 4th quarter valued at approximately $40,000. AlphaQuest LLC acquired a new position in WSFS Financial during the 4th quarter valued at approximately $84,000. Finally, Sterling Capital Management LLC raised its holdings in shares of WSFS Financial by 804.4% in the fourth quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank’s stock worth $99,000 after buying an additional 1,657 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Trading Down 0.3%

NASDAQ WSFS opened at $52.94 on Friday. WSFS Financial Co. has a 1 year low of $42.21 and a 1 year high of $62.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The company has a market capitalization of $3.01 billion, a PE ratio of 11.98 and a beta of 0.86. The company has a fifty day moving average of $51.23 and a 200 day moving average of $53.99.

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

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is an increase from WSFS Financial’s previous quarterly dividend of $0.15. WSFS Financial’s dividend payout ratio is 15.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WSFS shares. Keefe, Bruyette & Woods dropped 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 report on Monday, April 28th. Stephens reiterated an “overweight” rating and set a $64.00 price target on shares of WSFS Financial in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $62.75.

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.