Quantbot Technologies LP Buys New Holdings in WSFS Financial Corporation $WSFS

Quantbot Technologies LP purchased a new position in WSFS Financial Corporation (NASDAQ:WSFS) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 21,667 shares of the bank’s stock, valued at approximately $1,169,000.

Other institutional investors also recently bought and sold shares of the company. First Horizon Corp acquired a new stake in WSFS Financial during the 3rd quarter valued at approximately $31,000. EverSource Wealth Advisors LLC increased its stake in shares of WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after acquiring an additional 706 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of WSFS Financial by 17.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank’s stock worth $79,000 after purchasing an additional 212 shares during the last quarter. GAMMA Investing LLC lifted its position in WSFS Financial by 14.4% during the third quarter. GAMMA Investing LLC now owns 1,939 shares of the bank’s stock valued at $105,000 after purchasing an additional 244 shares during the period. Finally, LSV Asset Management purchased a new stake in WSFS Financial in the third quarter valued at $129,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Performance

WSFS opened at $62.98 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.32 billion, a price-to-earnings ratio of 12.35 and a beta of 0.76. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $71.32. The firm’s fifty day simple moving average is $62.21 and its two-hundred day simple moving average is $57.69.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The business had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $267.36 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts anticipate that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, February 13th. WSFS Financial’s payout ratio is 13.33%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WSFS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. DA Davidson started coverage on WSFS Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $74.00 target price on the stock. Zacks Research raised WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Piper Sandler lifted their price target on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Finally, Stephens reissued an “overweight” rating and issued a $71.00 price target (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.80.

Insiders Place Their Bets

In other news, EVP James J. Wechsler sold 450 shares of WSFS Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the sale, the executive vice president directly owned 5,777 shares of the company’s stock, valued at $403,754.53. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur J. Bacci sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the sale, the executive vice president owned 26,366 shares of the company’s stock, valued at $1,859,066.66. The trade was a 7.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,455 shares of company stock worth $242,923. Corporate insiders own 1.10% of the company’s stock.

About WSFS Financial

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.