WSFS Financial Co. (NASDAQ:WSFS) Position Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 26.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,409 shares of the bank’s stock after selling 2,604 shares during the period. Janney Montgomery Scott LLC’s holdings in WSFS Financial were worth $279,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in WSFS Financial by 34.8% during the first quarter. BlackRock Inc. now owns 9,464,621 shares of the bank’s stock valued at $441,240,000 after purchasing an additional 2,442,621 shares during the last quarter. Vanguard Group Inc. increased its stake in WSFS Financial by 16.2% during the first quarter. Vanguard Group Inc. now owns 7,112,476 shares of the bank’s stock valued at $331,584,000 after purchasing an additional 992,425 shares during the last quarter. State Street Corp grew its position in shares of WSFS Financial by 11.6% during the first quarter. State Street Corp now owns 2,930,306 shares of the bank’s stock worth $110,209,000 after acquiring an additional 304,198 shares during the last quarter. Invesco Ltd. grew its position in shares of WSFS Financial by 7.0% during the first quarter. Invesco Ltd. now owns 1,369,339 shares of the bank’s stock worth $63,838,000 after acquiring an additional 89,948 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of WSFS Financial by 3.6% during the first quarter. Geode Capital Management LLC now owns 1,233,043 shares of the bank’s stock worth $46,375,000 after acquiring an additional 43,340 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

WSFS Financial Stock Performance

WSFS stock opened at $37.13 on Friday. The company has a market capitalization of $2.27 billion, a P/E ratio of 7.87 and a beta of 1.02. The company has a 50-day simple moving average of $36.89 and a 200 day simple moving average of $37.48. WSFS Financial Co. has a fifty-two week low of $29.59 and a fifty-two week high of $51.77. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.41.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, October 23rd. The bank reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.19. WSFS Financial had a net margin of 24.14% and a return on equity of 13.01%. The company had revenue of $255.27 million during the quarter, compared to the consensus estimate of $243.47 million. During the same period in the prior year, the company earned $1.23 EPS. WSFS Financial’s revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that WSFS Financial Co. will post 4.37 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, November 3rd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Thursday, November 2nd. WSFS Financial’s payout ratio is 12.71%.

Analyst Ratings Changes

Several research firms have recently commented on WSFS. StockNews.com began coverage on shares of WSFS Financial in a research report on Thursday, October 5th. They set a “hold” rating for the company. Stephens upped their price target on shares of WSFS Financial from $44.00 to $48.00 in a research report on Wednesday, July 26th. Finally, Piper Sandler upped their price target on shares of WSFS Financial from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, October 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.20.

About WSFS Financial

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.