Maryland State Retirement & Pension System Cuts Stake in WSFS Financial Corporation $WSFS

Maryland State Retirement & Pension System lowered its position in WSFS Financial Corporation (NASDAQ:WSFS) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,686 shares of the bank’s stock after selling 431 shares during the quarter. Maryland State Retirement & Pension System’s holdings in WSFS Financial were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Xponance Inc. lifted its position in WSFS Financial by 4.9% in the first quarter. Xponance Inc. now owns 4,439 shares of the bank’s stock valued at $230,000 after purchasing an additional 209 shares during the last quarter. GAMMA Investing LLC lifted its position in WSFS Financial by 37.0% in the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank’s stock valued at $106,000 after purchasing an additional 550 shares during the last quarter. Principal Financial Group Inc. lifted its position in WSFS Financial by 2.2% in the first quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank’s stock valued at $16,820,000 after purchasing an additional 7,012 shares during the last quarter. KBC Group NV lifted its position in WSFS Financial by 6.8% in the first quarter. KBC Group NV now owns 3,081 shares of the bank’s stock valued at $160,000 after purchasing an additional 196 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in WSFS Financial in the first quarter valued at approximately $661,000. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

WSFS has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, October 8th. TD Cowen started coverage on WSFS Financial in a report on Thursday, September 25th. They set a “buy” rating and a $67.00 target price for the company. Finally, DA Davidson upped their target price on WSFS Financial from $68.00 to $70.00 and gave the company a “buy” rating in a report on Monday, July 28th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, WSFS Financial has an average rating of “Moderate Buy” and an average price target of $66.25.

WSFS Financial Price Performance

Shares of WSFS stock opened at $51.60 on Monday. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 11.32 and a beta of 0.86. The business’s fifty day moving average is $55.57 and its 200 day moving average is $54.06. WSFS Financial Corporation has a twelve month low of $42.44 and a twelve month high of $62.75. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share for the quarter. The company had revenue of $161.68 million for the quarter. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%. Research analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 8th. WSFS Financial’s dividend payout ratio is presently 14.91%.

About WSFS Financial

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. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.