WSFS Financial Co. (NASDAQ:WSFS) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,787 shares of the bank’s stock after acquiring an additional 2,664 shares during the period. Envestnet Asset Management Inc. owned 0.14% of WSFS Financial worth $3,890,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WSFS. FourThought Financial LLC grew its stake in WSFS Financial by 17.5% during the 3rd quarter. FourThought Financial LLC now owns 2,986 shares of the bank’s stock worth $139,000 after buying an additional 444 shares during the last quarter. Strs Ohio grew its stake in WSFS Financial by 100.0% during the 3rd quarter. Strs Ohio now owns 3,600 shares of the bank’s stock worth $167,000 after buying an additional 1,800 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in WSFS Financial during the 1st quarter worth approximately $167,000. Point72 Hong Kong Ltd purchased a new position in WSFS Financial during the 2nd quarter worth approximately $152,000. Finally, Jacobi Capital Management LLC purchased a new position in shares of WSFS Financial in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 88.10% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the topic of a number of analyst reports. Stephens initiated coverage on WSFS Financial in a research note on Monday, April 3rd. They issued an “overweight” rating and a $47.00 price target on the stock. Keefe, Bruyette & Woods reduced their price objective on WSFS Financial from $54.00 to $48.00 and set a “market perform” rating for the company in a report on Thursday, April 6th. Piper Sandler cut WSFS Financial from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $53.00 to $52.00 in a report on Wednesday, February 1st. Finally, StockNews.com started coverage on WSFS Financial in a report on Thursday, March 16th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, WSFS Financial currently has a consensus rating of “Hold” and a consensus price target of $51.20.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $31.28 on Tuesday. The business has a 50 day simple moving average of $36.79 and a 200 day simple moving average of $43.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.81 and a quick ratio of 0.78. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 6.98 and a beta of 0.96. WSFS Financial Co. has a 12-month low of $29.59 and a 12-month high of $51.77.

WSFS Financial (NASDAQ:WSFS – Get Rating) last announced its quarterly earnings results on Monday, April 24th. The bank reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.26). WSFS Financial had a return on equity of 13.06% and a net margin of 26.79%. The company had revenue of $245.66 million during the quarter, compared to analyst estimates of $253.30 million. During the same period in the prior year, the firm earned $0.66 EPS. WSFS Financial’s quarterly revenue was up 23.4% on a year-over-year basis. On average, equities research analysts anticipate that WSFS Financial Co. will post 4.31 EPS for the current year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Friday, May 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.92%. WSFS Financial’s dividend payout ratio is presently 13.39%.

Insider Activity

In other news, EVP Christine Elizabeth Davis purchased 798 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was purchased at an average cost of $34.11 per share, with a total value of $27,219.78. Following the acquisition, the executive vice president now directly owns 1,753 shares in the company, valued at $59,794.83. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.29% of the company’s stock.

WSFS Financial Profile

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WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.