Assenagon Asset Management S.A. Invests $380,000 in WSFS Financial Co. (WSFS)
Assenagon Asset Management S.A. purchased a new position in WSFS Financial Co. (NASDAQ:WSFS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 8,064 shares of the bank’s stock, valued at approximately $380,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Guggenheim Capital LLC grew its stake in WSFS Financial by 38.0% in the first quarter. Guggenheim Capital LLC now owns 19,277 shares of the bank’s stock valued at $924,000 after purchasing an additional 5,313 shares in the last quarter. Millennium Management LLC grew its stake in WSFS Financial by 70.0% in the first quarter. Millennium Management LLC now owns 102,439 shares of the bank’s stock valued at $4,907,000 after purchasing an additional 42,198 shares in the last quarter. Principal Financial Group Inc. grew its stake in WSFS Financial by 10.3% in the first quarter. Principal Financial Group Inc. now owns 11,935 shares of the bank’s stock valued at $572,000 after purchasing an additional 1,113 shares in the last quarter. Amalgamated Bank bought a new position in WSFS Financial in the second quarter valued at approximately $225,000. Finally, First Trust Advisors LP grew its stake in WSFS Financial by 17.7% in the second quarter. First Trust Advisors LP now owns 77,117 shares of the bank’s stock valued at $4,110,000 after purchasing an additional 11,597 shares in the last quarter. 78.52% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently issued reports on the company. BidaskClub raised WSFS Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Keefe, Bruyette & Woods raised WSFS Financial from a “market perform” rating to an “outperform” rating in a research report on Wednesday, October 10th. Zacks Investment Research cut WSFS Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Stephens reaffirmed a “buy” rating and issued a $58.00 price objective on shares of WSFS Financial in a research report on Monday, August 13th. Finally, ValuEngine cut WSFS Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $59.67.
WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, October 22nd. The bank reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.04. WSFS Financial had a return on equity of 14.12% and a net margin of 23.83%. The company had revenue of $105.00 million during the quarter, compared to analysts’ expectations of $100.42 million. As a group, equities research analysts anticipate that WSFS Financial Co. will post 3.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Tuesday, November 6th will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.03%. WSFS Financial’s payout ratio is 17.19%.
In related news, CEO Mark A. Turner sold 42,000 shares of WSFS Financial stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $48.72, for a total transaction of $2,046,240.00. Following the completion of the sale, the chief executive officer now directly owns 153,738 shares of the company’s stock, valued at approximately $7,490,115.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Richard Wright sold 3,096 shares of WSFS Financial stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $50.36, for a total value of $155,914.56. Following the sale, the executive vice president now directly owns 45,265 shares of the company’s stock, valued at $2,279,545.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,791 shares of company stock valued at $4,049,304. Insiders own 5.73% of the company’s stock.
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WSFS Financial Company 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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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