JPMorgan Chase & Co. Buys 33,398 Shares of WSFS Financial Corporation $WSFS

JPMorgan Chase & Co. grew its stake in WSFS Financial Corporation (NASDAQ:WSFS) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,544,508 shares of the bank’s stock after buying an additional 33,398 shares during the period. JPMorgan Chase & Co.’s holdings in WSFS Financial were worth $83,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in WSFS Financial by 102.6% during the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after purchasing an additional 5,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of WSFS Financial by 3.5% in 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 period. Millennium Management LLC boosted its stake in shares of WSFS Financial by 230.4% in the 1st 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 last quarter. United Services Automobile Association acquired a new stake in shares of WSFS Financial during the first quarter worth $204,000. Finally, Jane Street Group LLC raised its stake in 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 last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Stock Down 3.4%

WSFS stock opened at $65.36 on Tuesday. The stock’s 50 day simple moving average is $60.86 and its 200 day simple moving average is $57.10. The company has a market cap of $3.57 billion, a P/E ratio of 12.82 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $71.32.

WSFS Financial (NASDAQ:WSFS) last announced 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 firm had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 earnings per share. On average, research analysts expect that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, February 13th. WSFS Financial’s payout ratio is 13.33%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WSFS. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 28th. Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Piper Sandler lifted their target price on WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Stephens reissued an “overweight” rating and issued a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, EVP James J. Wechsler sold 450 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were 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 in the company, valued at approximately $403,754.53. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $70.10, for a total transaction of $70,100.00. Following the transaction, the executive vice president owned 14,740 shares of the company’s stock, valued at $1,033,274. This represents a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,455 shares of company stock worth $242,923. 1.21% of the stock is owned by corporate insiders.

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.