JPMorgan Chase & Co. Sells 35,381 Shares of WSFS Financial Co. (NASDAQ:WSFS)

JPMorgan Chase & Co. lessened its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 7.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 411,746 shares of the bank’s stock after selling 35,381 shares during the quarter. JPMorgan Chase & Co.’s holdings in WSFS Financial were worth $20,995,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WSFS. International Assets Investment Management LLC increased its stake in WSFS Financial by 5,000.0% in the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after acquiring an additional 900 shares during the period. GAMMA Investing LLC boosted its holdings in WSFS Financial by 41.8% during the third quarter. GAMMA Investing LLC now owns 1,451 shares of the bank’s stock valued at $74,000 after purchasing an additional 428 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $127,000. CIBC Asset Management Inc bought a new position in shares of WSFS Financial during the 3rd quarter worth approximately $202,000. Finally, Lansing Street Advisors bought a new position in shares of WSFS Financial during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Trading Down 0.2 %

WSFS stock opened at $52.49 on Thursday. The business has a fifty day moving average price of $56.15 and a 200 day moving average price of $52.87. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial Co. has a fifty-two week low of $40.19 and a fifty-two week high of $62.75. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 11.98 and a beta of 1.08.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $1.23 earnings per share. Analysts expect that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. WSFS Financial’s payout ratio is 13.70%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WSFS. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $59.75.

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.