abrdn plc Reduces Holdings in WSFS Financial Co. (NASDAQ:WSFS)

abrdn plc decreased its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,292 shares of the bank’s stock after selling 109,516 shares during the period. abrdn plc’s holdings in WSFS Financial were worth $27,165,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its position in WSFS Financial by 3.0% during the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after buying an additional 87,781 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of WSFS Financial by 1.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock worth $66,287,000 after buying an additional 14,792 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of WSFS Financial by 1.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 255,452 shares of the bank’s stock worth $14,295,000 after buying an additional 3,861 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of WSFS Financial by 819.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock worth $13,528,000 after buying an additional 226,933 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in WSFS Financial by 20.1% in the 3rd quarter. Fisher Asset Management LLC now owns 220,000 shares of the bank’s stock worth $11,218,000 after purchasing an additional 36,798 shares during the period. Institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on WSFS shares. Keefe, Bruyette & Woods raised their target price on WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday. Stephens reaffirmed an “overweight” rating and issued a $68.00 target price on shares of WSFS Financial in a report on Tuesday, January 28th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, WSFS Financial currently has a consensus rating of “Hold” and an average price target of $64.75.

WSFS Financial Stock Up 2.3 %

Shares of NASDAQ:WSFS opened at $58.54 on Thursday. WSFS Financial Co. has a 1 year low of $40.19 and a 1 year high of $62.75. The business has a 50 day simple moving average of $55.30 and a two-hundred day simple moving average of $53.70. The firm has a market capitalization of $3.45 billion, a PE ratio of 13.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. On average, equities analysts predict that WSFS Financial Co. will post 4.4 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Friday, February 7th. WSFS Financial’s payout ratio is presently 13.57%.

WSFS Financial Company Profile

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.