Loomis Sayles & Co. L P Reduces Position in WSFS Financial Co. (NASDAQ:WSFS)

Loomis Sayles & Co. L P lessened its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 37.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 150,091 shares of the bank’s stock after selling 90,139 shares during the quarter. Loomis Sayles & Co. L P owned about 0.25% of WSFS Financial worth $7,653,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC grew its stake in shares of WSFS Financial by 29.2% in the 2nd quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock valued at $3,871,000 after purchasing an additional 18,636 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in shares of WSFS Financial in the 3rd quarter valued at approximately $718,000. Squarepoint Ops LLC grew its stake in shares of WSFS Financial by 265.1% in the 2nd quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank’s stock valued at $1,117,000 after purchasing an additional 17,254 shares during the last quarter. Sei Investments Co. grew its stake in shares of WSFS Financial by 34.1% in the 2nd quarter. Sei Investments Co. now owns 48,343 shares of the bank’s stock valued at $2,272,000 after purchasing an additional 12,298 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of WSFS Financial in the 3rd quarter valued at approximately $1,412,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

WSFS Financial Stock Up 0.5 %

WSFS Financial stock opened at $60.43 on Thursday. 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 1-year low of $37.09 and a 1-year high of $62.75. The company has a market cap of $3.56 billion, a PE ratio of 13.80 and a beta of 1.02. The stock’s 50 day moving average price is $52.75 and its 200 day moving average price is $50.38.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly 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. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. During the same period in the previous year, the business earned $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts predict that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 0.99%. WSFS Financial’s dividend payout ratio is presently 13.70%.

WSFS Financial 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.