Private Advisor Group LLC purchased a new stake in WSFS Financial Co. (NASDAQ:WSFS – Get Rating) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,115 shares of the bank's stock, valued at approximately $1,311,000.
Several other institutional investors have also recently added to or reduced their stakes in WSFS. Point72 Hong Kong Ltd acquired a new position in WSFS Financial in the 4th quarter valued at about $32,000. Quadrant Capital Group LLC boosted its holdings in WSFS Financial by 1,032.3% in the 1st quarter. Quadrant Capital Group LLC now owns 702 shares of the bank's stock valued at $33,000 after purchasing an additional 640 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in WSFS Financial in the 1st quarter valued at approximately $40,000. FourThought Financial LLC purchased a new stake in WSFS Financial in the 1st quarter valued at approximately $74,000. Finally, Harbor Investment Advisory LLC boosted its holdings in WSFS Financial by 43.5% in the 1st quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank's stock valued at $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.
Get WSFS Financial alerts:Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. StockNews.com raised WSFS Financial from a "sell" rating to a "hold" rating in a report on Friday. Piper Sandler lifted their price objective on WSFS Financial to $58.00 and gave the company an "outperform" rating in a report on Wednesday, July 27th. Finally, DA Davidson lifted their price objective on WSFS Financial to $52.00 in a report on Tuesday, August 9th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $54.50.
WSFS Financial Price Performance
Shares of NASDAQ:WSFS opened at $48.05 on Tuesday. The business's 50 day simple moving average is $45.06 and its 200-day simple moving average is $44.82. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.47 and a beta of 1.10. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.76 and a quick ratio of 0.76. WSFS Financial Co. has a 12 month low of $37.03 and a 12 month high of $56.30.WSFS Financial (NASDAQ:WSFS – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a return on equity of 9.91% and a net margin of 23.44%. During the same quarter in the prior year, the company posted $2.00 earnings per share. As a group, equities analysts forecast that WSFS Financial Co. will post 4.33 earnings per share for the current fiscal year.
WSFS Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were issued a $0.15 dividend. The ex-dividend date was Thursday, August 4th. This is an increase from WSFS Financial's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.25%. WSFS Financial's payout ratio is 18.07%.
Insider Buying and Selling at WSFS Financial
In other WSFS Financial news, Director Francis J. Leto sold 3,087 shares of the business's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the transaction, the director now directly owns 36,241 shares in the company, valued at approximately $1,803,352.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other WSFS Financial news, EVP Richard Wright sold 3,740 shares of the business's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $49.66, for a total value of $185,728.40. Following the completion of the transaction, the executive vice president now directly owns 38,456 shares in the company, valued at approximately $1,909,724.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Francis J. Leto sold 3,087 shares of the company's stock in a transaction on 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 owns 36,241 shares of the company's stock, valued at $1,803,352.16. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by insiders.
About WSFS Financial
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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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