Wells Fargo & Company MN Raises Stake in WSFS Financial Corporation (WSFS)
Wells Fargo & Company MN raised its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,825 shares of the bank’s stock after acquiring an additional 6,905 shares during the quarter. Wells Fargo & Company MN owned approximately 0.17% of WSFS Financial Corporation worth $2,441,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. bought a new position in shares of WSFS Financial Corporation during the 1st quarter worth approximately $110,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of WSFS Financial Corporation in the 1st quarter valued at approximately $145,000. Victory Capital Management Inc. boosted its holdings in shares of WSFS Financial Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,977 shares of the bank’s stock valued at $180,000 after buying an additional 596 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of WSFS Financial Corporation by 601.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,005 shares of the bank’s stock valued at $182,000 after buying an additional 3,434 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in shares of WSFS Financial Corporation in the 1st quarter valued at approximately $272,000. 78.54% of the stock is owned by institutional investors.
Shares of WSFS Financial Corporation (NASDAQ:WSFS) opened at 50.25 on Tuesday. The stock has a 50 day moving average price of $47.45 and a 200 day moving average price of $45.92. The firm has a market cap of $1.58 billion, a P/E ratio of 23.00 and a beta of 1.22. WSFS Financial Corporation has a 12-month low of $31.90 and a 12-month high of $52.15.
WSFS Financial Corporation (NASDAQ:WSFS) last announced its quarterly earnings results 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 Corporation had a return on equity of 10.44% and a net margin of 19.96%. The company had revenue of $87.80 million for the quarter, compared to the consensus estimate of $56.86 million. During the same quarter last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. On average, equities analysts expect that WSFS Financial Corporation will post $2.56 earnings per share for the current year.
WSFS has been the subject of several recent analyst reports. BidaskClub downgraded WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Boenning Scattergood reissued a “buy” rating and issued a $49.00 price objective on shares of WSFS Financial Corporation in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $50.00 price objective on shares of WSFS Financial Corporation in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.33.
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In related news, EVP S James Mazarakis sold 7,161 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $44.86, for a total transaction of $321,242.46. Following the completion of the sale, the executive vice president now owns 48,288 shares in the company, valued at $2,166,199.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peggy H. Eddens sold 8,580 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $44.29, for a total value of $380,008.20. Following the sale, the executive vice president now owns 27,659 shares of the company’s stock, valued at approximately $1,225,017.11. The disclosure for this sale can be found here. Insiders have sold 16,240 shares of company stock valued at $723,172 in the last quarter. 4.89% of the stock is currently owned by corporate insiders.
WSFS Financial Corporation Profile
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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