Victory Capital Management Inc. Grows Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Victory Capital Management Inc. increased its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 30.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,773 shares of the bank’s stock after purchasing an additional 8,617 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of WSFS Financial worth $1,875,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in WSFS Financial by 0.7% during the 2nd 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 shares of WSFS Financial by 2.0% in the second quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock valued at $535,000 after acquiring an additional 225 shares during the period. GAMMA Investing LLC grew its position in shares of WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after acquiring an additional 295 shares during the last quarter. Profund Advisors LLC raised its position in WSFS Financial by 9.4% in the 2nd quarter. Profund Advisors LLC now owns 5,273 shares of the bank’s stock valued at $248,000 after purchasing an additional 452 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in WSFS Financial by 5,000.0% during the 3rd quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock worth $47,000 after purchasing an additional 900 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Stephens upped their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. DA Davidson increased their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Piper Sandler upped their price target on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Performance

NASDAQ:WSFS opened at $60.48 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $3.56 billion, a PE ratio of 13.81 and a beta of 1.02. The firm has a 50 day simple moving average of $52.42 and a 200-day simple moving average of $50.17. WSFS Financial Co. has a 1-year low of $37.09 and a 1-year high of $60.60.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The company had revenue of $267.61 million during the quarter, compared to analysts’ expectations of $260.35 million. During the same period in the previous year, the company earned $1.23 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities analysts expect that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

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.