AlphaQuest LLC Buys 58,310 Shares of WSFS Financial Corporation $WSFS

AlphaQuest LLC raised its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 1,163.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,322 shares of the bank’s stock after purchasing an additional 58,310 shares during the quarter. AlphaQuest LLC owned approximately 0.11% of WSFS Financial worth $3,415,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of WSFS. First Horizon Corp purchased a new position in shares of WSFS Financial during the third quarter valued at about $31,000. CWM LLC boosted its position in WSFS Financial by 31.2% during the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after acquiring an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of WSFS Financial by 265.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after acquiring an additional 706 shares during the period. Farther Finance Advisors LLC raised its position in shares of WSFS Financial by 618.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank’s stock worth $69,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of WSFS Financial by 17.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank’s stock valued at $79,000 after purchasing an additional 212 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Up 4.0%

WSFS stock opened at $64.72 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. WSFS Financial Corporation has a 1-year low of $42.44 and a 1-year high of $64.75. The stock has a market capitalization of $3.54 billion, a P/E ratio of 12.69 and a beta of 0.80. The business has a fifty day moving average price of $57.04 and a 200-day moving average price of $55.78.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping the consensus estimate of $1.26 by $0.17. The company had revenue of $90.08 million during the quarter, compared to the consensus estimate of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.WSFS Financial’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the company earned $1.11 EPS. Equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, February 13th. WSFS Financial’s payout ratio is presently 13.33%.

Analyst Upgrades and Downgrades

WSFS has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and issued a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research note on Wednesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. DA Davidson cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Piper Sandler boosted their price objective on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, WSFS Financial currently has an average rating of “Moderate Buy” and an average target price of $69.00.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.