Verdence Capital Advisors LLC boosted its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS – Free Report) by 173.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,239 shares of the bank’s stock after acquiring an additional 24,239 shares during the quarter. Verdence Capital Advisors LLC’s holdings in WSFS Financial were worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of WSFS. Root Financial Partners LLC increased its holdings in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after purchasing an additional 207 shares during the period. USA Financial Formulas purchased a new stake in shares of WSFS Financial during the third quarter worth approximately $40,000. Allworth Financial LP acquired a new stake in shares of WSFS Financial during the second quarter worth $47,000. Reyes Financial Architecture Inc. acquired a new stake in shares of WSFS Financial during the third quarter worth $62,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of WSFS Financial during the second quarter worth $64,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
WSFS has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted their price objective on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. TD Cowen restated a “buy” rating and set a $90.00 price objective (up from $89.00) on shares of WSFS Financial in a research report on Monday. Stephens cut shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a research note on Wednesday, August 12th. DA Davidson set a $83.00 target price on shares of WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of WSFS Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, WSFS Financial has an average rating of “Moderate Buy” and an average price target of $84.21.
Get Our Latest Analysis on WSFS Financial
WSFS Financial Stock Performance
NASDAQ:WSFS opened at $78.85 on Wednesday. WSFS Financial Corporation has a 1 year low of $50.79 and a 1 year high of $82.94. The stock has a fifty day moving average price of $77.90 and a two-hundred day moving average price of $72.23. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 12.40 and a beta of 0.84.
WSFS Financial (NASDAQ:WSFS – Get Free Report) last issued its earnings results on Thursday, October 22nd. The bank reported $1.75 EPS for the quarter, topping the consensus estimate of $1.62 by $0.13. The company had revenue of $287.57 million for the quarter, compared to analysts’ expectations of $289.82 million. During the same quarter in the previous year, the firm posted $1.37 earnings per share. WSFS Financial’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, analysts predict that WSFS Financial Corporation will post 6.63 EPS for the current year.
WSFS Financial Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a $0.20 dividend. The ex-dividend date is Friday, November 6th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is 12.58%.
Insider Buying and Selling
In other WSFS Financial news, Director Michael Donahue sold 3,247 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the transaction, the director directly owned 11,495 shares of the company’s stock, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
About WSFS Financial
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.
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