Cooke & Bieler LP Sells 17,320 Shares of WSFS Financial Corporation $WSFS

Cooke & Bieler LP lessened its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 313,020 shares of the bank’s stock after selling 17,320 shares during the quarter. Cooke & Bieler LP’s holdings in WSFS Financial were worth $23,655,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. acquired a new stake in shares of WSFS Financial in the third quarter valued at about $329,000. Counterpoint Mutual Funds LLC purchased a new position in shares of WSFS Financial in the third quarter worth about $258,000. USA Financial Formulas purchased a new position in shares of WSFS Financial in the third quarter worth about $40,000. GAMMA Investing LLC boosted its position in WSFS Financial by 10.6% during the third quarter. GAMMA Investing LLC now owns 2,669 shares of the bank’s stock worth $202,000 after acquiring an additional 255 shares during the last quarter. Finally, Argent Capital Management LLC boosted its position in WSFS Financial by 28.8% during the third quarter. Argent Capital Management LLC now owns 14,785 shares of the bank’s stock worth $1,117,000 after acquiring an additional 3,304 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Price Performance

Shares of WSFS stock opened at $76.81 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50-day moving average is $78.08 and its two-hundred day moving average is $75.67. WSFS Financial Corporation has a 12 month low of $50.79 and a 12 month high of $82.94. The company has a market capitalization of $3.92 billion, a PE ratio of 12.84 and a beta of 0.84.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. During the same period in the previous year, the business posted $1.27 EPS. WSFS Financial’s revenue was up 5.6% on a year-over-year basis. Analysts predict that WSFS Financial Corporation will post 6.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WSFS. TD Cowen dropped their price objective on shares of WSFS Financial from $92.00 to $89.00 and set a “buy” rating for the company in a research note on Monday, October 5th. Keefe, Bruyette & Woods boosted their price objective on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Stephens cut WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a report on Wednesday, August 12th. DA Davidson set a $83.00 target price on WSFS Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, WSFS Financial has a consensus rating of “Hold” and a consensus target price of $84.07.

Insider Buying and Selling

In related news, Director Michael J. Donahue sold 3,247 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $79.46, for a total value of $258,006.62. Following the transaction, the director directly owned 11,495 shares in the company, valued at approximately $913,392.70. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the transaction, the executive vice president owned 15,207 shares in the company, valued at $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

WSFS Financial Profile

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.