Earnest Partners LLC Sells 13,855 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Earnest Partners LLC lowered its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 311,226 shares of the bank’s stock after selling 13,855 shares during the period. Earnest Partners LLC owned approximately 0.52% of WSFS Financial worth $14,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of WSFS Financial by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after buying an additional 110,279 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after buying an additional 160,090 shares in the last quarter. American Century Companies Inc. raised its position in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after buying an additional 191,566 shares during the last quarter. Finally, Norges Bank bought a new position in WSFS Financial during the 4th quarter valued at about $31,369,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.29% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. DA Davidson lifted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Piper Sandler boosted their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods increased their price target on WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, Stephens lifted their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.50.

WSFS Financial Stock Up 1.5 %

WSFS opened at $50.16 on Friday. WSFS Financial Co. has a 1-year low of $33.12 and a 1-year high of $58.59. The firm’s 50 day simple moving average is $52.62 and its two-hundred day simple moving average is $47.53. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.97 billion, a PE ratio of 11.20 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. WSFS Financial’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.16 earnings per share. As a group, equities analysts forecast that WSFS Financial Co. will post 4.32 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. WSFS Financial’s dividend payout ratio (DPR) is presently 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.