Strid Group LLC Acquires New Position in WSFS Financial Corporation $WSFS

Strid Group LLC acquired a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,103 shares of the bank’s stock, valued at approximately $281,000.

A number of other institutional investors have also modified their holdings of the business. T. Rowe Price Investment Management Inc. grew its position in shares of WSFS Financial by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,320,766 shares of the bank’s stock valued at $120,379,000 after buying an additional 7,591 shares during the last quarter. Invesco Ltd. grew its position in shares of WSFS Financial by 1.6% during the 1st quarter. Invesco Ltd. now owns 969,476 shares of the bank’s stock valued at $50,287,000 after buying an additional 15,281 shares during the last quarter. Cooke & Bieler LP grew its position in shares of WSFS Financial by 14.0% during the 1st quarter. Cooke & Bieler LP now owns 892,286 shares of the bank’s stock valued at $46,283,000 after buying an additional 109,519 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of WSFS Financial by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 748,085 shares of the bank’s stock valued at $38,803,000 after buying an additional 7,501 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of WSFS Financial by 0.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 597,649 shares of the bank’s stock valued at $31,000,000 after buying an additional 4,913 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Trading Up 0.5%

Shares of NASDAQ:WSFS opened at $53.94 on Friday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 11.83 and a beta of 0.86. WSFS Financial Corporation has a 1-year low of $42.44 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The company has a 50 day moving average price of $55.78 and a 200 day moving average price of $54.02.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.14. The firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $221.93 million. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, research analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 8th. WSFS Financial’s dividend payout ratio is 14.91%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen assumed coverage on shares of WSFS Financial in a research report on Thursday, September 25th. They issued a “buy” rating and a $67.00 target price for the company. DA Davidson upped their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research report on Saturday, September 27th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, WSFS Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.25.

About WSFS Financial

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.