WSFS Financial Co. (NASDAQ:WSFS) Stock Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 30.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 208,465 shares of the bank’s stock after selling 89,961 shares during the quarter. Renaissance Technologies LLC owned approximately 0.35% of WSFS Financial worth $9,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in WSFS Financial by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock worth $1,419,000 after acquiring an additional 200 shares in the last quarter. Diversified Trust Co boosted its holdings in WSFS Financial by 2.0% in the second quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after purchasing an additional 225 shares in the last quarter. GAMMA Investing LLC boosted its holdings in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares in the last quarter. Texas Permanent School Fund Corp raised its holdings in WSFS Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock valued at $2,392,000 after buying an additional 518 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of WSFS Financial by 6.0% in the first quarter. ProShare Advisors LLC now owns 12,182 shares of the bank’s stock worth $550,000 after buying an additional 693 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WSFS. Piper Sandler raised their price objective on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Stephens boosted their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. DA Davidson raised their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.50.

WSFS Financial Trading Down 1.4 %

Shares of WSFS stock opened at $51.68 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. WSFS Financial Co. has a 1 year low of $33.12 and a 1 year high of $58.59. The firm’s fifty day simple moving average is $52.93 and its 200 day simple moving average is $47.45. The firm has a market capitalization of $3.11 billion, a P/E ratio of 11.54 and a beta of 1.02.

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

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Friday, August 9th. WSFS Financial’s payout ratio is presently 13.39%.

Insider Activity

In related news, EVP Stephen P. Clark sold 12,663 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the transaction, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at $1,450,924.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.29% of the stock is currently owned by company insiders.

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.