Raymond James & Associates Trims Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Raymond James & Associates decreased its stake in WSFS Financial Co. (NASDAQ:WSFS) by 22.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,878 shares of the bank’s stock after selling 24,627 shares during the quarter. Raymond James & Associates owned approximately 0.14% of WSFS Financial worth $4,328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSFS. Fidelis Capital Partners LLC purchased a new stake in WSFS Financial in the first quarter worth about $45,000. GAMMA Investing LLC increased its position in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after buying an additional 295 shares in the last quarter. Innealta Capital LLC purchased a new stake in WSFS Financial in the second quarter worth about $114,000. SG Americas Securities LLC purchased a new stake in WSFS Financial in the third quarter worth about $127,000. Finally, Ascent Group LLC purchased a new stake in shares of WSFS Financial during the second quarter worth about $201,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

WSFS has been the subject of several research analyst reports. Stephens increased their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Piper Sandler increased their target price on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, DA Davidson increased their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.75.

WSFS Financial Price Performance

Shares of WSFS Financial stock opened at $49.64 on Friday. The stock has a 50 day moving average of $51.18 and a 200 day moving average of $48.76. WSFS Financial Co. has a 12 month low of $35.09 and a 12 month high of $58.59. The firm has a market cap of $2.94 billion, a PE ratio of 11.33 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The company had revenue of $267.61 million during the quarter, compared to analyst estimates of $260.35 million. During the same period in the prior year, the company earned $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, research analysts expect that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Friday, November 8th. WSFS Financial’s payout ratio is 13.70%.

WSFS Financial Company 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.