Northwestern Mutual Wealth Management Co. grew its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 1,725.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,833 shares of the bank’s stock after purchasing an additional 8,349 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in WSFS Financial were worth $341,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Corbyn Investment Management Inc. MD acquired a new stake in shares of WSFS Financial during the 1st quarter valued at $1,418,000. Bank of America Corp DE lifted its stake in WSFS Financial by 7.7% during the fourth quarter. Bank of America Corp DE now owns 158,475 shares of the bank’s stock worth $6,007,000 after purchasing an additional 11,326 shares during the period. New York State Common Retirement Fund lifted its stake in WSFS Financial by 5.4% during the fourth quarter. New York State Common Retirement Fund now owns 216,765 shares of the bank’s stock worth $8,218,000 after purchasing an additional 11,138 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its stake in WSFS Financial by 4.8% during the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 257,045 shares of the bank’s stock worth $9,745,000 after purchasing an additional 11,747 shares during the period. Finally, Royce & Associates LP bought a new position in WSFS Financial during the fourth quarter worth about $11,562,000. 78.20% of the stock is owned by institutional investors.
In other news, CEO Rodger Levenson sold 13,981 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $42.95, for a total value of $600,483.95. Following the transaction, the chief executive officer now owns 70,152 shares of the company’s stock, valued at approximately $3,013,028.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Turner sold 65,736 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $42.85, for a total value of $2,816,787.60. Following the completion of the transaction, the director now directly owns 162,243 shares in the company, valued at approximately $6,952,112.55. The disclosure for this sale can be found here. Insiders sold a total of 251,646 shares of company stock valued at $10,792,140 over the last three months. 2.42% of the stock is currently owned by insiders.
WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, April 25th. The bank reported $0.91 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.91. WSFS Financial had a net margin of 22.95% and a return on equity of 12.03%. The business had revenue of $124.44 million for the quarter, compared to analysts’ expectations of $125.86 million. As a group, analysts predict that WSFS Financial Co. will post 3.44 EPS for the current fiscal year.
WSFS has been the subject of a number of research reports. Zacks Investment Research raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. BidaskClub downgraded shares of WSFS Financial from a “sell” rating to a “strong sell” rating in a research report on Friday, March 22nd. Finally, Boenning Scattergood reissued an “outperform” rating and set a $47.75 price objective on shares of WSFS Financial in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $55.94.
About WSFS Financial
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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