SG Americas Securities LLC Boosts Holdings in WSFS Financial Corporation $WSFS

SG Americas Securities LLC lifted its holdings in WSFS Financial Corporation (NASDAQ:WSFS) by 338.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,594 shares of the bank’s stock after purchasing an additional 23,618 shares during the period. SG Americas Securities LLC owned approximately 0.06% of WSFS Financial worth $1,690,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. First Horizon Corp purchased a new position in WSFS Financial in the 3rd quarter valued at approximately $31,000. Quarry LP increased its position in shares of WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after acquiring an additional 500 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock valued at $53,000 after acquiring an additional 706 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WSFS Financial by 14.4% in the third quarter. GAMMA Investing LLC now owns 1,939 shares of the bank’s stock valued at $105,000 after acquiring an additional 244 shares in the last quarter. Finally, LSV Asset Management purchased a new position in WSFS Financial in the third quarter valued at $129,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on WSFS. DA Davidson began coverage on WSFS Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $74.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. Brean Capital initiated coverage on WSFS Financial in a research report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective for the company. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.42.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP James J. Wechsler sold 450 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total transaction of $31,450.50. Following the transaction, the executive vice president owned 5,777 shares of the company’s stock, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the sale, the executive vice president owned 14,740 shares in the company, valued at $1,033,274. This trade represents a 6.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,455 shares of company stock valued at $242,923 in the last ninety days. Insiders own 1.10% of the company’s stock.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $66.30 on Monday. The business has a 50-day moving average of $65.16 and a two-hundred day moving average of $58.68. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 13.00 and a beta of 0.75. WSFS Financial Corporation has a 1 year low of $42.44 and a 1 year high of $71.32. 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 (NASDAQ:WSFS) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The business had revenue of $90.08 million for 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%.The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.11 EPS. On average, 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 announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.17 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio is presently 13.33%.

About WSFS Financial

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.