Wellington Management Group LLP Sells 8,061 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Wellington Management Group LLP cut its stake in WSFS Financial Co. (NASDAQ:WSFS) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 216,993 shares of the bank’s stock after selling 8,061 shares during the quarter. Wellington Management Group LLP owned about 0.36% of WSFS Financial worth $9,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WSFS. Allspring Global Investments Holdings LLC lifted its stake in shares of WSFS Financial by 7,791.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,426 shares of the bank’s stock worth $7,644,000 after acquiring an additional 164,317 shares during the last quarter. Norges Bank purchased a new stake in shares of WSFS Financial during the fourth quarter valued at $31,369,000. Assenagon Asset Management S.A. increased its stake in WSFS Financial by 169.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 205,025 shares of the bank’s stock worth $9,417,000 after buying an additional 128,834 shares during the period. Wedge Capital Management L L P NC increased its stake in WSFS Financial by 130.3% in the 4th quarter. Wedge Capital Management L L P NC now owns 64,370 shares of the bank’s stock worth $2,957,000 after buying an additional 36,424 shares during the period. Finally, International Assets Investment Management LLC boosted its position in WSFS Financial by 1,032.9% in the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after buying an additional 754 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $46.02 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $44.57 and its 200-day moving average price is $44.07. The firm has a market cap of $2.77 billion, a P/E ratio of 10.27 and a beta of 1.01. WSFS Financial Co. has a 12 month low of $33.12 and a 12 month high of $47.97.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, April 25th. The bank reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. The business had revenue of $251.10 million for the quarter, compared to the consensus estimate of $247.57 million. During the same quarter last year, the firm posted $1.02 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts expect that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.30%. WSFS Financial’s dividend payout ratio is currently 13.39%.

Analysts Set New Price Targets

Separately, Piper Sandler raised their target price on shares of WSFS Financial from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 22nd.

Insider Buying and Selling at WSFS Financial

In other news, EVP Stephen P. Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the transaction, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at approximately $1,196,525.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.29% of the company’s stock.

WSFS Financial Company Profile

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.