Ameriprise Financial Inc. Lowers Position in WSFS Financial Corp. (WSFS)
Ameriprise Financial Inc. lowered its stake in shares of WSFS Financial Corp. (NASDAQ:WSFS) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 218,848 shares of the company’s stock after selling 4,400 shares during the period. Ameriprise Financial Inc. owned 0.74% of WSFS Financial Corp. worth $7,043,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Societe Generale purchased a new position in shares of WSFS Financial Corp. during the second quarter valued at $109,000. SG Americas Securities LLC bought a new position in WSFS Financial Corp. during the second quarter worth $109,000. Legal & General Group Plc raised its position in WSFS Financial Corp. by 15.5% in the first quarter. Legal & General Group Plc now owns 4,605 shares of the company’s stock worth $151,000 after buying an additional 618 shares during the period. Huntington Asset Advisors Inc. bought a new position in WSFS Financial Corp. during the first quarter worth $167,000. Finally, Stoneridge Investment Partners LLC bought a new position in WSFS Financial Corp. during the second quarter worth $211,000. 77.28% of the stock is owned by institutional investors and hedge funds.
Shares of WSFS Financial Corp. (NASDAQ:WSFS) traded up 0.28% during midday trading on Friday, reaching $36.26. The company had a trading volume of 85,174 shares. The company’s 50-day moving average is $37.14 and its 200-day moving average is $34.96. WSFS Financial Corp. has a 52-week low of $26.40 and a 52-week high of $39.31. The firm has a market cap of $1.07 billion, a P/E ratio of 17.51 and a beta of 1.36.
WSFS Financial Corp. (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. WSFS Financial Corp. had a return on equity of 11.78% and a net margin of 21.20%. The firm earned $46.41 million during the quarter, compared to the consensus estimate of $46.64 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts expect that WSFS Financial Corp. will post $2.20 EPS for the current fiscal year.
WSFS has been the subject of a number of recent analyst reports. Zacks Investment Research lowered WSFS Financial Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, September 29th. Stephens initiated coverage on WSFS Financial Corp. in a research report on Friday, September 23rd. They issued an “equal weight” rating for the company. Finally, Keefe, Bruyette & Woods increased their price target on WSFS Financial Corp. from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Monday, August 1st.
In other WSFS Financial Corp. news, EVP Stephen P. Clark sold 7,269 shares of WSFS Financial Corp. stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $36.03, for a total value of $261,902.07. Following the completion of the transaction, the executive vice president now owns 15,689 shares in the company, valued at approximately $565,274.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.17% of the stock is owned by company insiders.
About WSFS Financial Corp.
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. The Company 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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