Sei Investments Co. increased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS – Free Report) by 44.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,419 shares of the bank’s stock after purchasing an additional 53,416 shares during the period. Sei Investments Co.’s holdings in WSFS Financial were worth $11,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WSFS. Norges Bank purchased a new stake in WSFS Financial in the fourth quarter valued at $39,193,000. Vaughan Nelson Investment Management L.P. purchased a new position in shares of WSFS Financial during the 1st quarter valued at about $34,313,000. Goldman Sachs Group Inc. raised its stake in shares of WSFS Financial by 71.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock valued at $25,973,000 after buying an additional 195,979 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of WSFS Financial by 64.0% in the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock valued at $27,983,000 after buying an additional 166,837 shares during the period. Finally, Citadel Advisors LLC lifted its holdings in shares of WSFS Financial by 1,190.1% in the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock valued at $8,264,000 after buying an additional 141,356 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms recently commented on WSFS. Stephens reaffirmed an “overweight” rating and set a $87.00 target price on shares of WSFS Financial in a report on Monday. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a report on Wednesday. Piper Sandler restated a “neutral” rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Keefe, Bruyette & Woods raised their price objective on shares of WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, UBS Group set a $76.00 target price on shares of WSFS Financial in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, WSFS Financial currently has an average rating of “Moderate Buy” and an average target price of $81.64.
WSFS Financial Trading Up 0.5%
WSFS stock opened at $80.20 on Friday. The company’s 50-day simple moving average is $76.00 and its 200-day simple moving average is $69.60. The company has a quick ratio of 0.85, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $82.30. The firm has a market cap of $4.17 billion, a P/E ratio of 13.41 and a beta of 0.76.
WSFS Financial (NASDAQ:WSFS – Get Free Report) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The firm had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.41 million. During the same period last year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that WSFS Financial Corporation will post 6.51 EPS for the current fiscal year.
WSFS Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.
Insider Activity at WSFS Financial
In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of the business’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 sale, the executive vice president owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This trade represents a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by company insiders.
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.
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