WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,449 shares of the bank’s stock after selling 22,542 shares during the period. Bank of New York Mellon Corp owned about 0.80% of WSFS Financial worth $24,942,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of WSFS Financial by 11.4% during the fourth quarter. Handelsbanken Fonder AB now owns 13,705 shares of the bank’s stock worth $728,000 after purchasing an additional 1,400 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of WSFS Financial by 3.0% during the fourth quarter. New York State Common Retirement Fund now owns 250,058 shares of the bank’s stock worth $13,286,000 after buying an additional 7,293 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of WSFS Financial by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank’s stock worth $16,856,000 after buying an additional 10,915 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of WSFS Financial by 10.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,926 shares of the bank’s stock worth $12,110,000 after buying an additional 21,990 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of WSFS Financial by 2.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 59,136 shares of the bank’s stock worth $3,142,000 after buying an additional 1,578 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. This trade represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.29% of the stock is owned by insiders.

WSFS Financial Stock Up 1.7 %

Shares of WSFS Financial stock opened at $52.46 on Monday. WSFS Financial Co. has a twelve month low of $40.99 and a twelve month high of $62.75. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 11.87 and a beta of 1.06. The company has a fifty day moving average price of $54.46 and a 200 day moving average price of $54.06.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, January 27th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. Equities research analysts forecast that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.60 annualized dividend and a yield of 1.14%. WSFS Financial’s dividend payout ratio (DPR) is 13.57%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WSFS shares. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and issued a $68.00 price objective on shares of WSFS Financial in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, WSFS Financial presently has an average rating of “Hold” and a consensus price target of $64.75.

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.