State of New Jersey Common Pension Fund D Reduces Stake in WSFS Financial Co. (NASDAQ:WSFS)

State of New Jersey Common Pension Fund D reduced its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 32.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,078 shares of the bank’s stock after selling 20,624 shares during the period. State of New Jersey Common Pension Fund D owned about 0.07% of WSFS Financial worth $2,025,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas increased its position in WSFS Financial by 6.3% in the fourth quarter. Teacher Retirement System of Texas now owns 13,218 shares of the bank’s stock worth $607,000 after buying an additional 781 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in WSFS Financial by 166.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 20,598 shares of the bank’s stock valued at $946,000 after acquiring an additional 12,873 shares during the period. Norges Bank purchased a new stake in WSFS Financial during the fourth quarter valued at about $31,369,000. Hsbc Holdings PLC boosted its position in WSFS Financial by 124.9% during the fourth quarter. Hsbc Holdings PLC now owns 38,628 shares of the bank’s stock worth $1,785,000 after purchasing an additional 21,456 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in shares of WSFS Financial by 115,450.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,311 shares of the bank’s stock worth $106,000 after purchasing an additional 2,309 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Down 1.9 %

Shares of NASDAQ:WSFS opened at $52.44 on Friday. The firm has a fifty day moving average price of $52.91 and a two-hundred day moving average price of $47.34. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 11.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial Co. has a one year low of $33.12 and a one year high of $58.59.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company had revenue of $266.00 million during the quarter, compared to analyst estimates of $254.48 million. During the same quarter last year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. Analysts anticipate that WSFS Financial Co. will post 4.33 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 9th. This represents a $0.60 annualized dividend and a yield of 1.14%. WSFS Financial’s payout ratio is presently 13.39%.

Wall Street Analyst Weigh In

Several research firms recently commented on WSFS. Keefe, Bruyette & Woods raised their price objective on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. DA Davidson lifted their price target on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler increased their price objective on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, Stephens raised their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $61.50.

Insiders Place Their Bets

In other news, EVP Stephen P. Clark sold 12,663 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total transaction of $715,712.76. Following the sale, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,450,924.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.29% of the company’s stock.

WSFS Financial 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.