Wilmington Savings Fund Society FSB Boosts Stake in WSFS Financial Corporation $WSFS

Wilmington Savings Fund Society FSB lifted its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 46.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,669 shares of the bank’s stock after purchasing an additional 28,471 shares during the quarter. Wilmington Savings Fund Society FSB owned about 0.16% of WSFS Financial worth $4,836,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WSFS. Nisa Investment Advisors LLC boosted its holdings in WSFS Financial by 7.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after buying an additional 203 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of WSFS Financial by 7.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock valued at $177,000 after acquiring an additional 218 shares during the period. Savant Capital LLC boosted its stake in shares of WSFS Financial by 5.1% during the 3rd quarter. Savant Capital LLC now owns 4,580 shares of the bank’s stock worth $247,000 after acquiring an additional 223 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of WSFS Financial by 3.7% in the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock worth $345,000 after acquiring an additional 225 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of WSFS Financial by 14.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,939 shares of the bank’s stock worth $105,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Piper Sandler boosted their target price on WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods lifted their price target on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Stephens restated an “overweight” rating and set a $71.00 target price (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. Finally, Zacks Research raised shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $70.58.

Insider Buying and Selling at WSFS Financial

In other news, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the completion of the sale, the executive vice president owned 14,740 shares of the company’s stock, valued at $1,033,274. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $31,450.50. Following the completion of the transaction, the executive vice president owned 5,777 shares of the company’s stock, valued at $403,754.53. The trade was a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,455 shares of company stock worth $242,923. Insiders own 1.10% of the company’s stock.

WSFS Financial Trading Down 0.3%

WSFS Financial stock opened at $62.40 on Thursday. The stock has a 50-day moving average price of $63.30 and a 200 day moving average price of $57.99. WSFS Financial Corporation has a 52 week low of $42.44 and a 52 week high of $71.32. The stock has a market cap of $3.29 billion, a PE ratio of 12.24 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.17. The company had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. Equities research analysts predict that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, February 13th. WSFS Financial’s 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.