Teachers Retirement System of The State of Kentucky grew its holdings in WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 29.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 18,695 shares of the bank's stock after acquiring an additional 4,200 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in WSFS Financial were worth $872,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WSFS. Point72 Hong Kong Ltd acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $32,000. Quadrant Capital Group LLC increased its position in shares of WSFS Financial by 1,032.3% during the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank's stock worth $33,000 after purchasing an additional 640 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of WSFS Financial during the 1st quarter worth about $40,000. FourThought Financial LLC acquired a new stake in shares of WSFS Financial during the 1st quarter worth about $74,000. Finally, Harbor Investment Advisory LLC increased its position in shares of WSFS Financial by 43.5% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank's stock worth $96,000 after purchasing an additional 621 shares in the last quarter. Institutional investors and hedge funds own 88.34% of the company's stock.
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Insider Activity
In other news, EVP Richard Wright sold 3,740 shares of the firm's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $49.66, for a total value of $185,728.40. Following the transaction, the executive vice president now owns 38,456 shares of the company's stock, valued at approximately $1,909,724.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Richard Wright sold 3,740 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.66, for a total transaction of $185,728.40. Following the transaction, the executive vice president now owns 38,456 shares of the company's stock, valued at approximately $1,909,724.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Francis J. Leto sold 3,087 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total transaction of $153,609.12. Following the transaction, the director now directly owns 36,241 shares in the company, valued at approximately $1,803,352.16. The disclosure for this sale can be found here. Insiders own 1.98% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on WSFS shares. Piper Sandler increased their price objective on shares of WSFS Financial to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. StockNews.com raised shares of WSFS Financial from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, DA Davidson increased their price objective on shares of WSFS Financial to $52.00 in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, WSFS Financial presently has an average rating of "Hold" and a consensus target price of $54.50.
WSFS Financial Stock Down 1.7 %
Shares of NASDAQ WSFS opened at $48.37 on Friday. The firm has a market capitalization of $3.06 billion, a PE ratio of 14.57 and a beta of 1.10. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.16. WSFS Financial Co. has a 1 year low of $37.03 and a 1 year high of $56.30. The firm's 50-day moving average is $48.08 and its 200-day moving average is $44.51.
WSFS Financial (NASDAQ:WSFS – Get Rating) last issued its earnings results on Monday, July 25th. The bank reported $1.02 earnings per share (EPS) for the quarter, beating 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 period last year, the firm posted $2.00 EPS. Equities analysts expect that WSFS Financial Co. will post 4.33 EPS for the current year.
WSFS Financial Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 5th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, August 4th. This is a positive change from WSFS Financial's previous quarterly dividend of $0.13. WSFS Financial's dividend payout ratio (DPR) is 18.07%.
WSFS Financial Company 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.
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