Envestnet Asset Management Inc. Has $9.39 Million Stock Position in WSFS Financial Corporation (NASDAQ:WSFS)

Envestnet Asset Management Inc. increased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 1.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 180,933 shares of the bank’s stock after purchasing an additional 1,971 shares during the period. Envestnet Asset Management Inc. owned approximately 0.31% of WSFS Financial worth $9,385,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in WSFS Financial by 37.0% in the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank’s stock worth $106,000 after acquiring an additional 550 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in WSFS Financial by 2.2% in the first quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank’s stock worth $16,820,000 after acquiring an additional 7,012 shares in the last quarter. Sei Investments Co. boosted its holdings in WSFS Financial by 58.4% in the fourth quarter. Sei Investments Co. now owns 56,359 shares of the bank’s stock worth $2,994,000 after acquiring an additional 20,784 shares in the last quarter. Norges Bank bought a new position in WSFS Financial in the fourth quarter worth approximately $32,775,000. Finally, Deutsche Bank AG boosted its holdings in WSFS Financial by 49.6% in the fourth quarter. Deutsche Bank AG now owns 51,747 shares of the bank’s stock worth $2,749,000 after acquiring an additional 17,165 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WSFS shares. Wall Street Zen lowered WSFS Financial from a “hold” rating to a “sell” rating in a report on Friday, May 30th. Keefe, Bruyette & Woods cut their price target on WSFS Financial from $66.00 to $64.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Finally, Stephens reiterated an “overweight” rating and issued a $64.00 price target on shares of WSFS Financial in a report on Monday, April 28th. One research 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $62.75.

WSFS Financial Stock Down 0.9%

Shares of NASDAQ:WSFS opened at $58.17 on Monday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 13.07 and a beta of 0.87. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.12. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $62.75. The business’s 50 day moving average is $54.76 and its 200 day moving average is $53.32.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $256.11 million for the quarter, compared to analysts’ expectations of $235.44 million. WSFS Financial had a return on equity of 10.06% and a net margin of 18.86%. WSFS Financial’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, sell-side analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.17 per share. This is a boost from WSFS Financial’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. WSFS Financial’s payout ratio is presently 15.28%.

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.