New York State Teachers Retirement System Trims Stake in WSFS Financial Co. (NASDAQ:WSFS)

New York State Teachers Retirement System reduced its position in WSFS Financial Co. (NASDAQ:WSFS) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,740 shares of the bank’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System’s holdings in WSFS Financial were worth $1,261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares during the period. Dimensional Fund Advisors LP raised its position in WSFS Financial by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after purchasing an additional 110,279 shares during the period. Champlain Investment Partners LLC raised its position in WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after purchasing an additional 160,090 shares during the period. American Century Companies Inc. raised its position in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after purchasing an additional 191,566 shares during the period. Finally, abrdn plc raised its position in WSFS Financial by 1.0% in the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after purchasing an additional 6,380 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Price Performance

NASDAQ WSFS opened at $55.96 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $51.18 and its 200-day moving average price is $49.19. WSFS Financial Co. has a 52-week low of $35.09 and a 52-week high of $59.26. The company has a market cap of $3.32 billion, a PE ratio of 12.78 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. During the same period last year, the firm earned $1.23 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.07%. WSFS Financial’s dividend payout ratio is presently 13.70%.

Analyst Ratings Changes

WSFS has been the topic of a number of recent analyst reports. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. DA Davidson upped their target price on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens upped their target price 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. Piper Sandler upped their target price on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, WSFS Financial presently has a consensus rating of “Hold” and a consensus price target of $59.75.

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.