Los Angeles Capital Management LLC Raises Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

Los Angeles Capital Management LLC boosted its position in shares of WSFS Financial Co. (NASDAQ:WSFSGet Rating) by 302.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,526 shares of the bank’s stock after acquiring an additional 20,680 shares during the period. Los Angeles Capital Management LLC’s holdings in WSFS Financial were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in WSFS Financial by 34.8% during the 1st quarter. BlackRock Inc. now owns 9,464,621 shares of the bank’s stock worth $441,240,000 after buying an additional 2,442,621 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of WSFS Financial by 16.2% during the first quarter. Vanguard Group Inc. now owns 7,112,476 shares of the bank’s stock worth $331,584,000 after acquiring an additional 992,425 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of WSFS Financial by 32.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,263,625 shares of the bank’s stock valued at $152,154,000 after acquiring an additional 790,917 shares in the last quarter. State Street Corp raised its position in shares of WSFS Financial by 29.1% in the 1st quarter. State Street Corp now owns 2,878,509 shares of the bank’s stock valued at $134,196,000 after purchasing an additional 648,867 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in WSFS Financial by 7.0% in the 1st quarter. Invesco Ltd. now owns 1,369,339 shares of the bank’s stock worth $63,838,000 after purchasing an additional 89,948 shares in the last quarter. 88.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WSFS Financial

In other news, Director Francis J. Leto sold 3,087 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total transaction of $153,609.12. Following the completion of the transaction, the director now directly owns 36,241 shares of the company’s stock, valued at approximately $1,803,352.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Francis J. Leto sold 3,087 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $49.76, for a total transaction of $153,609.12. Following the sale, the director now directly owns 36,241 shares in the company, valued at approximately $1,803,352.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Wright sold 3,740 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $49.66, for a total value of $185,728.40. Following the completion of the transaction, the executive vice president now directly owns 38,456 shares of the company’s stock, valued at approximately $1,909,724.96. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of WSFS Financial to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, July 27th. DA Davidson raised their target price on WSFS Financial to $52.00 in a research note on Tuesday, August 9th. Finally, StockNews.com started coverage on WSFS Financial in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.

WSFS Financial Stock Up 0.9 %

WSFS stock opened at $47.46 on Tuesday. The company has a market capitalization of $3.01 billion, a P/E ratio of 14.21 and a beta of 1.02. WSFS Financial Co. has a 12 month low of $37.03 and a 12 month high of $56.30. The firm’s fifty day simple moving average is $47.93 and its 200-day simple moving average is $44.68. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.76 and a quick ratio of 0.76.

WSFS Financial (NASDAQ:WSFSGet Rating) last posted its earnings results on Monday, October 24th. The bank reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.02). The business had revenue of $176.80 million for the quarter, compared to analyst estimates of $175.59 million. WSFS Financial had a net margin of 22.99% and a return on equity of 10.64%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, equities research analysts forecast that WSFS Financial Co. will post 4.28 earnings per share for the current year.

WSFS Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Friday, November 4th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, November 3rd. WSFS Financial’s dividend payout ratio is currently 17.96%.

WSFS Financial Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for WSFS Financial (NASDAQ:WSFS)

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