Engineers Gate Manager LP purchased a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 27,802 shares of the bank’s stock, valued at approximately $2,133,000.
Several other hedge funds and other institutional investors also recently modified their holdings of WSFS. Root Financial Partners LLC raised its stake in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after buying an additional 207 shares in the last quarter. Allworth Financial LP bought a new stake in WSFS Financial during the 2nd quarter valued at approximately $47,000. Clearstead Advisors LLC grew its holdings in shares of WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after acquiring an additional 489 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of WSFS Financial during the 2nd quarter worth approximately $64,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of WSFS Financial by 23.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock worth $63,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.
Insider Buying and Selling
In other WSFS Financial news, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial 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 approximately $1,243,020.18. The trade was a 18.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael Donahue sold 3,247 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total transaction of $258,006.62. Following the sale, the director owned 11,495 shares of the company’s stock, valued at approximately $913,392.70. This represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.
WSFS Financial Price Performance
WSFS Financial (NASDAQ:WSFS – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same period in the previous year, the business posted $1.27 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, analysts predict that WSFS Financial Corporation will post 6.58 EPS for the current year.
WSFS Financial Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, August 7th. WSFS Financial’s payout ratio is 13.38%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. DA Davidson set a $83.00 target price on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Stephens cut WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target on the stock. in a research note on Wednesday, August 12th. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a report on Wednesday, July 29th. Weiss Ratings raised WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $83.07.
Check Out Our Latest Research Report on WSFS Financial
About WSFS Financial
WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest locally managed banks in the United States.
WSFS Bank provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, mortgages, credit and debit cards, treasury management, and other deposit and credit products.
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