Private Advisor Group LLC lifted its stake in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 15.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,324 shares of the bank's stock after purchasing an additional 4,209 shares during the period. Private Advisor Group LLC owned 0.05% of WSFS Financial worth $1,296,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in shares of WSFS Financial during the 4th quarter worth approximately $32,000. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 640 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of WSFS Financial during the 1st quarter worth approximately $40,000. FourThought Financial LLC acquired a new position in shares of WSFS Financial during the 1st quarter worth approximately $74,000. Finally, Harbor Investment Advisory LLC increased its holdings 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 acquiring an additional 621 shares during the last quarter. Institutional investors own 88.34% of the company's stock.
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Insider Transactions at WSFS Financial
In related news, Director Francis J. Leto sold 3,087 shares of the firm'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 sale, the director now directly owns 36,241 shares of the company's stock, valued at $1,803,352.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Richard Wright sold 3,740 shares of WSFS Financial 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francis J. Leto sold 3,087 shares of WSFS Financial stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $49.76, for a total value of $153,609.12. Following the sale, the director now directly owns 36,241 shares in the company, valued at $1,803,352.16. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. DA Davidson boosted their target price on WSFS Financial to $52.00 in a report on Tuesday, August 9th. Piper Sandler increased their price objective on WSFS Financial to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Finally, StockNews.com upgraded WSFS Financial from a "sell" rating to a "hold" rating in a research report on Wednesday, September 21st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $54.50.
WSFS Financial Stock Performance
WSFS opened at $46.46 on Friday. The firm has a market cap of $2.94 billion, a P/E ratio of 13.99 and a beta of 1.10. WSFS Financial Co. has a 52-week low of $37.03 and a 52-week high of $56.30. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76. The business's fifty day moving average is $48.61 and its 200-day moving average is $44.38.
WSFS Financial (NASDAQ:WSFS – Get Rating) last released its earnings results on Monday, July 25th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.12. The company had revenue of $225.64 million for the quarter, compared to analyst estimates of $147.52 million. WSFS Financial had a return on equity of 9.91% and a net margin of 23.44%. During the same period in the prior year, the firm posted $2.00 EPS. Sell-side analysts expect that WSFS Financial Co. will post 4.33 EPS for the current fiscal year.
WSFS Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 5th were issued a dividend of $0.15 per share. This is a positive change from WSFS Financial's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Thursday, August 4th. WSFS Financial's dividend payout ratio 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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