UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 9.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 127,468 shares of the bank’s stock after selling 13,636 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in WSFS Financial were worth $6,500,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Louisiana State Employees Retirement System grew its stake in shares of WSFS Financial by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock worth $1,419,000 after buying an additional 200 shares in the last quarter. Diversified Trust Co grew its stake in shares of WSFS Financial by 2.0% in the 2nd quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after buying an additional 225 shares in the last quarter. FMR LLC grew its stake in shares of WSFS Financial by 5.9% in the 3rd quarter. FMR LLC now owns 4,283 shares of the bank’s stock worth $218,000 after buying an additional 239 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of WSFS Financial by 41.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,451 shares of the bank’s stock worth $74,000 after buying an additional 428 shares in the last quarter. Finally, Profund Advisors LLC grew its stake in shares of WSFS Financial by 9.4% in the 2nd quarter. Profund Advisors LLC now owns 5,273 shares of the bank’s stock worth $248,000 after buying an additional 452 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Price Performance

WSFS stock opened at $58.82 on Wednesday. The stock has a market cap of $3.46 billion, a PE ratio of 13.43 and a beta of 1.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial Co. has a 12 month low of $40.19 and a 12 month high of $62.75. The company has a 50-day moving average price of $54.47 and a 200 day moving average price of $51.37.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The company had revenue of $267.61 million during the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. Equities research analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.15 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.02%. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

Wall Street Analysts Forecast Growth

WSFS has been the subject of a number of recent analyst reports. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $59.75.

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.