Crossmark Global Holdings Inc. boosted its stake in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 30.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,627 shares of the bank's stock after purchasing an additional 1,307 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in WSFS Financial were worth $262,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WSFS. Advisor Group Holdings Inc. boosted its position in WSFS Financial by 406.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,442 shares of the bank's stock worth $127,000 after purchasing an additional 1,960 shares during the period. Envestnet Asset Management Inc. boosted its position in WSFS Financial by 15.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 5,290 shares of the bank's stock worth $265,000 after purchasing an additional 724 shares during the period. Northern Trust Corp boosted its position in shares of WSFS Financial by 0.7% in the fourth quarter. Northern Trust Corp now owns 756,389 shares of the bank's stock valued at $37,911,000 after acquiring an additional 5,058 shares during the period. ProShare Advisors LLC boosted its position in shares of WSFS Financial by 62.2% in the fourth quarter. ProShare Advisors LLC now owns 11,764 shares of the bank's stock valued at $590,000 after acquiring an additional 4,511 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of WSFS Financial by 12.0% in the fourth quarter. Bank of America Corp DE now owns 198,385 shares of the bank's stock valued at $9,943,000 after acquiring an additional 21,270 shares during the period. 88.34% of the stock is owned by institutional investors.
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Insiders Place Their Bets
In other WSFS Financial news, EVP Richard Wright sold 3,740 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $49.66, for a total transaction of $185,728.40. Following the completion of the transaction, the executive vice president now owns 38,456 shares of the company's stock, valued at $1,909,724.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other WSFS Financial news, EVP Richard Wright sold 3,740 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $49.66, for a total transaction of $185,728.40. Following the completion of the transaction, the executive vice president now owns 38,456 shares of the company's stock, valued at $1,909,724.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Francis J. Leto sold 3,087 shares of the business's stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the transaction, the director now directly owns 36,241 shares of the company's stock, valued at approximately $1,803,352.16. The disclosure for this sale can be found here. Insiders own 1.73% of the company's stock.
WSFS Financial Trading Down 0.5 %
WSFS opened at $48.11 on Friday. WSFS Financial Co. has a twelve month low of $37.03 and a twelve month high of $56.30. The company has a 50-day simple moving average of $45.06 and a 200 day simple moving average of $44.82. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 14.49 and a beta of 1.12.
WSFS Financial (NASDAQ:WSFS – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a net margin of 23.44% and a return on equity of 9.91%. During the same quarter in the previous year, the business earned $2.00 earnings per share. Analysts predict that WSFS Financial Co. will post 4.33 EPS for the current fiscal year.
WSFS Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were paid a dividend of $0.15 per share. This is an increase from WSFS Financial's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, August 4th. This represents a $0.60 annualized dividend and a yield of 1.25%. WSFS Financial's payout ratio is presently 18.07%.
Analyst Ratings Changes
A number of brokerages have recently issued reports on WSFS. StockNews.com cut shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Thursday, August 25th. DA Davidson boosted their target price on shares of WSFS Financial to $52.00 in a research report on Tuesday, August 9th. Finally, Piper Sandler boosted their target price on shares of WSFS Financial to $58.00 and gave the company an "outperform" rating in a research report on Wednesday, July 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $54.50.
WSFS Financial Profile
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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.
Further Reading
- Get a free copy of the StockNews.com research report on WSFS Financial (WSFS)
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