WSFS Financial Co. (NASDAQ:WSFS) Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 7.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,746 shares of the bank’s stock after selling 35,381 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.70% of WSFS Financial worth $20,995,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in WSFS Financial by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after purchasing an additional 110,279 shares in the last quarter. State Street Corp boosted its stake in shares of WSFS Financial by 3.0% during the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after buying an additional 87,781 shares during the period. Champlain Investment Partners LLC grew its holdings in shares of WSFS Financial by 1.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock valued at $66,287,000 after acquiring an additional 14,792 shares in the last quarter. American Century Companies Inc. increased its stake in shares of WSFS Financial by 27.9% in the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after acquiring an additional 191,566 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of WSFS Financial by 1.0% during the third quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after acquiring an additional 6,380 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Price Performance

NASDAQ WSFS opened at $52.49 on Thursday. WSFS Financial Co. has a fifty-two week low of $40.19 and a fifty-two week high of $62.75. The stock’s 50-day moving average is $56.15 and its two-hundred day moving average is $52.87. The firm has a market cap of $3.09 billion, a P/E ratio of 11.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $1.23 EPS. On average, analysts anticipate that WSFS Financial Co. will post 4.27 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, November 22nd. Stockholders of record on Friday, November 8th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, November 8th. WSFS Financial’s payout ratio is 13.70%.

Analyst Ratings Changes

Several research analysts have weighed in on WSFS shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, WSFS Financial presently has an average rating of “Hold” and an average price target of $59.75.

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.