Rhumbline Advisers raised its position in shares of WSFS Financial Co. (NASDAQ:WSFS – Free Report) by 5.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 204,748 shares of the bank’s stock after buying an additional 10,425 shares during the period. Rhumbline Advisers owned about 0.33% of WSFS Financial worth $7,701,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Grey Fox Wealth Advisors LLC boosted its holdings in WSFS Financial by 1,145.5% in the first quarter. Grey Fox Wealth Advisors LLC now owns 1,258 shares of the bank’s stock valued at $47,000 after purchasing an additional 1,157 shares during the period. Tower Research Capital LLC TRC boosted its holdings in WSFS Financial by 987.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,674 shares of the bank’s stock valued at $101,000 after purchasing an additional 2,428 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in WSFS Financial in the first quarter valued at $109,000. Geneos Wealth Management Inc. purchased a new position in WSFS Financial in the first quarter valued at $167,000. Finally, Point72 Hong Kong Ltd purchased a new position in WSFS Financial in the second quarter valued at $152,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on WSFS shares. Stephens lifted their price target on WSFS Financial from $44.00 to $48.00 in a report on Wednesday, July 26th. Piper Sandler lifted their price target on WSFS Financial from $37.00 to $39.00 in a report on Wednesday, July 26th. StockNews.com began coverage on WSFS Financial in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, DA Davidson upgraded WSFS Financial from a “neutral” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Monday, June 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.40.
WSFS Financial Stock Performance
Shares of WSFS stock opened at $39.34 on Wednesday. The stock has a market capitalization of $2.40 billion, a PE ratio of 8.44 and a beta of 1.03. WSFS Financial Co. has a 52-week low of $29.59 and a 52-week high of $51.77. The stock’s 50-day moving average price is $40.76 and its 200 day moving average price is $39.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.39.
WSFS Financial (NASDAQ:WSFS – Get Free Report) last issued its quarterly earnings results on Monday, July 24th. The bank reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.06. The firm had revenue of $248.70 million for the quarter, compared to analysts’ expectations of $241.79 million. WSFS Financial had a return on equity of 13.33% and a net margin of 25.67%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.02 EPS. As a group, equities research analysts forecast that WSFS Financial Co. will post 4.17 EPS for the current year.
WSFS Financial Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Friday, August 4th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend was Thursday, August 3rd. WSFS Financial’s dividend payout ratio (DPR) is presently 12.88%.
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.
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