WSFS Financial Co. (NASDAQ:WSFS) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 7,004.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 105,711 shares of the bank’s stock after acquiring an additional 104,223 shares during the quarter. GAMMA Investing LLC owned about 0.18% of WSFS Financial worth $5,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. boosted its position in shares of WSFS Financial by 0.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,313,175 shares of the bank’s stock worth $122,899,000 after buying an additional 19,895 shares during the period. JPMorgan Chase & Co. increased its position in shares of WSFS Financial by 309.9% during the fourth quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank’s stock worth $89,674,000 after purchasing an additional 1,276,078 shares in the last quarter. Northern Trust Corp increased its position in shares of WSFS Financial by 1.2% during the fourth quarter. Northern Trust Corp now owns 809,334 shares of the bank’s stock worth $43,000,000 after purchasing an additional 9,542 shares in the last quarter. Cooke & Bieler LP increased its position in shares of WSFS Financial by 1.5% during the fourth quarter. Cooke & Bieler LP now owns 782,767 shares of the bank’s stock worth $41,588,000 after purchasing an additional 11,414 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in WSFS Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank’s stock valued at $39,347,000 after acquiring an additional 19,650 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Stock Performance

WSFS opened at $53.24 on Tuesday. The business’s 50 day moving average is $51.32 and its 200-day moving average is $53.57. The stock has a market cap of $3.02 billion, a PE ratio of 12.05 and a beta of 0.87. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. WSFS Financial Co. has a twelve month low of $42.21 and a twelve month high of $62.75.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. The business had revenue of $256.11 million for the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $1.11 earnings per share. On average, analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current year.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.28%. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.15. WSFS Financial’s dividend payout ratio (DPR) is 15.28%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WSFS. Stephens reaffirmed an “overweight” rating and issued a $64.00 price objective on shares of WSFS Financial in a report on Monday, April 28th. Keefe, Bruyette & Woods dropped their price objective on WSFS Financial from $66.00 to $64.00 and set a “market perform” rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of WSFS Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.75.

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.