Credit Suisse AG Has $1.70 Million Position in WSFS Financial Corporation (WSFS)
Credit Suisse AG cut its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 29.2% during the first quarter, Holdings Channel reports. The fund owned 36,999 shares of the bank’s stock after selling 15,274 shares during the period. Credit Suisse AG’s holdings in WSFS Financial Corporation were worth $1,700,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. bought a new position in shares of WSFS Financial Corporation during the first quarter valued at $110,000. Acrospire Investment Management LLC bought a new position in shares of WSFS Financial Corporation during the first quarter valued at $111,000. First Mercantile Trust Co. boosted its position in shares of WSFS Financial Corporation by 11.3% in the first quarter. First Mercantile Trust Co. now owns 2,650 shares of the bank’s stock valued at $122,000 after buying an additional 270 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of WSFS Financial Corporation during the first quarter valued at $145,000. Finally, US Bancorp DE boosted its position in shares of WSFS Financial Corporation by 12.7% in the first quarter. US Bancorp DE now owns 3,290 shares of the bank’s stock valued at $151,000 after buying an additional 371 shares during the last quarter. Institutional investors own 78.32% of the company’s stock.
Shares of WSFS Financial Corporation (WSFS) traded down 1.81% during midday trading on Friday, reaching $43.30. 103,614 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $45.34 and a 200 day moving average price of $45.56. WSFS Financial Corporation has a 12 month low of $31.90 and a 12 month high of $50.55. The firm has a market cap of $1.36 billion, a PE ratio of 19.82 and a beta of 1.19.
WSFS Financial Corporation (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.01. WSFS Financial Corporation had a net margin of 19.96% and a return on equity of 10.44%. The business had revenue of $54.31 million during the quarter, compared to the consensus estimate of $54.83 million. During the same period in the prior year, the firm posted $0.58 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts predict that WSFS Financial Corporation will post $2.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, August 9th. WSFS Financial Corporation’s payout ratio is 12.73%.
Several equities analysts have recently weighed in on the company. Boenning Scattergood restated a “buy” rating and issued a $49.00 price objective on shares of WSFS Financial Corporation in a report on Friday, July 28th. BidaskClub cut WSFS Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Keefe, Bruyette & Woods downgraded shares of WSFS Financial Corporation from an “outperform” rating to a “mkt perform” rating in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research upgraded shares of WSFS Financial Corporation from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research note on Wednesday, May 3rd. One 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’s stock. The company currently has an average rating of “Hold” and an average price target of $51.75.
In other WSFS Financial Corporation news, EVP S James Mazarakis sold 2,202 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $44.50, for a total value of $97,989.00. Following the completion of the sale, the executive vice president now directly owns 43,828 shares of the company’s stock, valued at approximately $1,950,346. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul S. Greenplate sold 7,056 shares of the company’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $46.28, for a total transaction of $326,551.68. Following the completion of the sale, the executive vice president now directly owns 10,535 shares of the company’s stock, valued at $487,559.80. The disclosure for this sale can be found here. Insiders sold a total of 14,169 shares of company stock valued at $645,929 over the last ninety days. 4.89% of the stock is currently owned by insiders.
About WSFS Financial Corporation
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.
Want to see what other hedge funds are holding WSFS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WSFS Financial Corporation (NASDAQ:WSFS).
Receive News & Ratings for WSFS Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WSFS Financial Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.