Wilmington Savings Fund Society FSB Has $4.84 Million Position in WSFS Financial Corporation $WSFS

Wilmington Savings Fund Society FSB lifted its holdings in WSFS Financial Corporation (NASDAQ:WSFS) by 46.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,669 shares of the bank’s stock after purchasing an additional 28,471 shares during the period. Wilmington Savings Fund Society FSB’s holdings in WSFS Financial were worth $4,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in shares of WSFS Financial by 1.1% in the 2nd quarter. Franklin Resources Inc. now owns 2,610,976 shares of the bank’s stock worth $143,604,000 after purchasing an additional 27,151 shares during the last quarter. Invesco Ltd. grew its stake in WSFS Financial by 1.6% during the second quarter. Invesco Ltd. now owns 985,367 shares of the bank’s stock worth $54,195,000 after buying an additional 15,891 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of WSFS Financial by 3.0% during the second quarter. Pzena Investment Management LLC now owns 811,169 shares of the bank’s stock worth $44,614,000 after buying an additional 23,360 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of WSFS Financial by 1.3% in the second quarter. Frontier Capital Management Co. LLC now owns 768,364 shares of the bank’s stock valued at $42,260,000 after acquiring an additional 9,765 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of WSFS Financial in the 2nd quarter worth approximately $36,860,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Stock Down 1.0%

NASDAQ:WSFS opened at $56.62 on Friday. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $59.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50-day simple moving average of $56.06 and a 200 day simple moving average of $55.70. The company has a market cap of $3.10 billion, a PE ratio of 11.67 and a beta of 0.80.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Thursday, October 23rd. The bank reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.13. The firm had revenue of $271.98 million during the quarter, compared to the consensus estimate of $269.04 million. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%.The business’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, sell-side analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 7th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, November 7th. WSFS Financial’s payout ratio is currently 14.02%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WSFS. Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 7th. TD Cowen upped their price target on WSFS Financial from $66.00 to $67.00 and gave the company a “buy” rating in a research note on Wednesday, January 7th. DA Davidson cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, October 8th. Finally, Piper Sandler set a $62.00 price target on shares of WSFS Financial and gave the stock a “neutral” rating in a research report on Wednesday, December 17th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.40.

WSFS Financial Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.