Assenagon Asset Management S.A. Makes New Investment in WSFS Financial Corporation $WSFS

Assenagon Asset Management S.A. bought a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,506 shares of the bank’s stock, valued at approximately $746,000.

A number of other hedge funds have also recently made changes to their positions in WSFS. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of WSFS Financial by 21.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,168 shares of the bank’s stock valued at $405,000 after purchasing an additional 1,276 shares during the period. Tudor Investment Corp ET AL purchased a new position in WSFS Financial during the 3rd quarter valued at about $1,153,000. JPMorgan Chase & Co. raised its stake in WSFS Financial by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after buying an additional 33,398 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in WSFS Financial during the third quarter worth $322,000. Finally, Wilmington Savings Fund Society FSB lifted its holdings in WSFS Financial by 46.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 89,669 shares of the bank’s stock worth $4,836,000 after buying an additional 28,471 shares during the period. 88.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Arthur J. Bacci sold 2,005 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total transaction of $141,372.55. Following the transaction, the executive vice president owned 26,366 shares in the company, valued at $1,859,066.66. This trade represents a 7.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP James J. Wechsler sold 450 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $69.89, for a total transaction of $31,450.50. Following the completion of the sale, the executive vice president owned 5,777 shares in the company, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 3,455 shares of company stock worth $242,923. Company insiders own 1.10% of the company’s stock.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $66.03 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average price is $64.86 and its 200 day moving average price is $58.49. WSFS Financial Corporation has a 52 week low of $42.44 and a 52 week high of $71.32. The firm has a market cap of $3.48 billion, a P/E ratio of 12.95 and a beta of 0.75.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating the consensus estimate of $1.26 by $0.17. The company had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 earnings per share. On average, sell-side analysts expect that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. WSFS Financial’s payout ratio is presently 13.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods lifted their price target on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday. Piper Sandler raised their price objective on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 28th. Finally, DA Davidson initiated coverage on WSFS Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $74.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.58.

WSFS Financial 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.