Raymond James Financial Inc. Takes $18.17 Million Position in WSFS Financial Co. (NASDAQ:WSFS)

Raymond James Financial Inc. acquired a new stake in WSFS Financial Co. (NASDAQ:WSFS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 341,943 shares of the bank’s stock, valued at approximately $18,167,000. Raymond James Financial Inc. owned approximately 0.58% of WSFS Financial as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC increased its position in WSFS Financial by 5.9% during the 3rd quarter. FMR LLC now owns 4,283 shares of the bank’s stock worth $218,000 after purchasing an additional 239 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of WSFS Financial by 1.2% during the 4th quarter. LPL Financial LLC now owns 21,060 shares of the bank’s stock valued at $1,119,000 after acquiring an additional 257 shares in the last quarter. HighTower Advisors LLC increased its holdings in WSFS Financial by 6.5% in the 4th quarter. HighTower Advisors LLC now owns 4,762 shares of the bank’s stock worth $253,000 after purchasing an additional 290 shares in the last quarter. Avantax Advisory Services Inc. raised its position in WSFS Financial by 1.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 31,725 shares of the bank’s stock valued at $1,686,000 after purchasing an additional 493 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of WSFS Financial by 2,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock worth $30,000 after purchasing an additional 550 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $68.00 target price on shares of WSFS Financial in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $64.75.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $47.94 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.78 billion, a PE ratio of 10.85 and a beta of 0.90. The firm has a fifty day simple moving average of $51.51 and a 200 day simple moving average of $53.58. WSFS Financial Co. has a twelve month low of $42.21 and a twelve month high of $62.75.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Monday, January 27th. The bank reported $1.11 EPS for the quarter, beating the consensus estimate of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. On average, sell-side analysts forecast that WSFS Financial Co. will post 4.47 EPS for the current year.

Insider Activity

In other news, CEO Rodger Levenson sold 7,199 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now owns 142,780 shares in the company, valued at approximately $7,881,456. This represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.21% of the stock is currently owned by company insiders.

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.