Fifth Third Bancorp Boosts Holdings in WSFS Financial Corporation $WSFS

Fifth Third Bancorp boosted its stake in WSFS Financial Corporation (NASDAQ:WSFS) by 11,821.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,731 shares of the bank’s stock after acquiring an additional 28,490 shares during the period. Fifth Third Bancorp owned about 0.05% of WSFS Financial worth $1,881,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC grew its position in shares of WSFS Financial by 102.6% during the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock worth $537,000 after acquiring an additional 5,240 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in WSFS Financial by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,176 shares during the last quarter. Millennium Management LLC increased its stake in WSFS Financial by 230.4% in the first quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock valued at $3,772,000 after purchasing an additional 50,717 shares during the period. United Services Automobile Association purchased a new stake in shares of WSFS Financial in the first quarter valued at about $204,000. Finally, Jane Street Group LLC boosted its stake in shares of WSFS Financial by 579.0% during the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after buying an additional 100,171 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity

In related news, CEO Rodger Levenson sold 65,446 shares of WSFS Financial stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS opened at $78.86 on Thursday. The company has a 50-day simple moving average of $74.70 and a 200-day simple moving average of $68.51. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $4.10 billion, a PE ratio of 14.03 and a beta of 0.76. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $80.73.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WSFS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. TD Cowen reiterated a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. DA Davidson lifted their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Stephens reiterated an “overweight” rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Finally, Zacks Research cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.07.

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.