American International Group Inc. grew its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,265 shares of the bank’s stock after acquiring an additional 1,515 shares during the period. American International Group Inc. owned about 0.06% of WSFS Financial worth $988,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of WSFS. Aperio Group LLC lifted its position in shares of WSFS Financial by 11.9% during the 2nd quarter. Aperio Group LLC now owns 6,626 shares of the bank’s stock valued at $300,000 after acquiring an additional 707 shares during the period. Strs Ohio lifted its position in shares of WSFS Financial by 5.7% during the 2nd quarter. Strs Ohio now owns 7,400 shares of the bank’s stock valued at $335,000 after acquiring an additional 400 shares during the period. Sei Investments Co. lifted its position in shares of WSFS Financial by 11.6% during the 2nd quarter. Sei Investments Co. now owns 44,962 shares of the bank’s stock valued at $2,039,000 after acquiring an additional 4,669 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of WSFS Financial by 4.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 124,311 shares of the bank’s stock worth $5,638,000 after purchasing an additional 5,287 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in shares of WSFS Financial by 1.7% during the 2nd quarter. SG Americas Securities LLC now owns 12,783 shares of the bank’s stock worth $580,000 after purchasing an additional 211 shares during the last quarter. Institutional investors own 80.48% of the company’s stock.
Several brokerages recently issued reports on WSFS. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price objective on shares of WSFS Financial in a research report on Tuesday, October 24th. Boenning Scattergood restated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, October 25th. BidaskClub downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Finally, ValuEngine downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. WSFS Financial presently has a consensus rating of “Hold” and an average price target of $51.33.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, October 23rd. The bank reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01). WSFS Financial had a return on equity of 10.93% and a net margin of 21.27%. The company had revenue of $87.80 million for the quarter, compared to analyst estimates of $56.86 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. analysts predict that WSFS Financial Co. will post 2.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 21st. Shareholders of record on Tuesday, November 7th were paid a $0.09 dividend. This is a boost from WSFS Financial’s previous quarterly dividend of $0.07. This represents a $0.36 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Monday, November 6th. WSFS Financial’s payout ratio is presently 14.88%.
In other WSFS Financial news, EVP Patrick Joseph Ward sold 2,070 shares of WSFS Financial stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $48.52, for a total value of $100,436.40. Following the completion of the sale, the executive vice president now directly owns 90,589 shares of the company’s stock, valued at approximately $4,395,378.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP S James Mazarakis sold 1,868 shares of WSFS Financial stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $51.49, for a total transaction of $96,183.32. Following the completion of the sale, the executive vice president now directly owns 42,995 shares of the company’s stock, valued at $2,213,812.55. The disclosure for this sale can be found here. 4.89% of the stock is currently owned by insiders.
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About WSFS Financial
WSFS Financial Corporation is a savings and loan holding company. The Company’s subsidiary is Wilmington Savings Fund Society, FSB (WSFS Bank or the Bank), which is the bank and trust company. It operates in three segments: WSFS Bank, Cash Connect and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.
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