Franklin Resources Inc. Cuts Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Franklin Resources Inc. lowered its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 8.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,545,695 shares of the bank’s stock after selling 236,403 shares during the quarter. Franklin Resources Inc.’s holdings in WSFS Financial were worth $135,253,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of WSFS Financial by 2,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock worth $30,000 after purchasing an additional 550 shares in the last quarter. Crowley Wealth Management Inc. purchased a new stake in shares of WSFS Financial during the fourth quarter valued at $32,000. VSM Wealth Advisory LLC purchased a new position in WSFS Financial in the 4th quarter worth about $40,000. AlphaQuest LLC bought a new position in WSFS Financial during the 4th quarter valued at about $84,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at about $149,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WSFS shares. Keefe, Bruyette & Woods boosted their price objective on shares of WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $68.00 price target on shares of WSFS Financial in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Price Performance

NASDAQ WSFS opened at $52.67 on Thursday. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 11.92 and a beta of 1.06. WSFS Financial Co. has a 12 month low of $41.33 and a 12 month high of $62.75. The company’s 50 day moving average is $54.06 and its two-hundred day moving average is $53.95. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. As a group, research analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend was Friday, February 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.57%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of WSFS Financial stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at approximately $7,881,456. The trade was a 4.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.29% of the company’s stock.

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.