WSFS Financial Co. (NASDAQ:WSFS) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 1,120,000 shares, a decrease of 5.1% from the September 30th total of 1,180,000 shares. Based on an average daily volume of 191,300 shares, the days-to-cover ratio is presently 5.9 days. Approximately 2.2% of the shares of the company are short sold.
In other WSFS Financial news, EVP Richard Wright sold 8,026 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $44.61, for a total transaction of $358,039.86. Following the transaction, the executive vice president now owns 60,851 shares in the company, valued at approximately $2,714,563.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Turner sold 124,177 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $41.31, for a total transaction of $5,129,751.87. Following the transaction, the director now owns 161,779 shares in the company, valued at approximately $6,683,090.49. The disclosure for this sale can be found here. Insiders have sold a total of 148,165 shares of company stock worth $6,157,398 in the last 90 days. 2.42% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in WSFS Financial by 28.4% during the second quarter. Vanguard Group Inc. now owns 4,789,200 shares of the bank’s stock valued at $197,793,000 after buying an additional 1,060,282 shares during the period. Invesco Ltd. grew its position in WSFS Financial by 3,264.0% during the second quarter. Invesco Ltd. now owns 1,061,109 shares of the bank’s stock valued at $43,824,000 after buying an additional 1,029,566 shares during the period. Nuveen Asset Management LLC grew its position in WSFS Financial by 105.8% during the second quarter. Nuveen Asset Management LLC now owns 1,353,642 shares of the bank’s stock valued at $55,906,000 after buying an additional 695,791 shares during the period. Price T Rowe Associates Inc. MD grew its position in WSFS Financial by 5.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,556,105 shares of the bank’s stock valued at $146,867,000 after buying an additional 171,092 shares during the period. Finally, BlackRock Inc. grew its position in WSFS Financial by 3.3% during the second quarter. BlackRock Inc. now owns 3,808,945 shares of the bank’s stock valued at $157,308,000 after buying an additional 123,383 shares during the period. Hedge funds and other institutional investors own 81.83% of the company’s stock.
WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.07. The firm had revenue of $183.18 million for the quarter, compared to analyst estimates of $158.75 million. WSFS Financial had a net margin of 20.56% and a return on equity of 10.47%. Equities analysts anticipate that WSFS Financial will post 3.66 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a $0.12 dividend. The ex-dividend date is Wednesday, November 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.11%. WSFS Financial’s payout ratio is currently 13.52%.
WSFS has been the topic of a number of research reports. BidaskClub lowered shares of WSFS Financial from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. ValuEngine lowered shares of WSFS Financial from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods lowered shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $46.00 price objective on the stock. in a research note on Wednesday, October 23rd. Finally, Zacks Investment Research reiterated a “hold” rating on shares of WSFS Financial in a research note on Saturday, October 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. WSFS Financial has a consensus rating of “Hold” and a consensus price target of $48.25.
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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