WSFS Financial Co. (NASDAQ:WSFS) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in WSFS Financial Co. (NASDAQ:WSFS) by 27.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 877,467 shares of the bank’s stock after acquiring an additional 191,566 shares during the quarter. American Century Companies Inc. owned 1.48% of WSFS Financial worth $41,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Great Lakes Advisors LLC lifted its stake in WSFS Financial by 7.0% during the second quarter. Great Lakes Advisors LLC now owns 60,595 shares of the bank’s stock worth $2,848,000 after purchasing an additional 3,942 shares in the last quarter. Victory Capital Management Inc. lifted its stake in WSFS Financial by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 28,156 shares of the bank’s stock worth $1,323,000 after acquiring an additional 1,056 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in WSFS Financial during the 2nd quarter valued at about $2,664,000. Innealta Capital LLC acquired a new position in WSFS Financial in the 2nd quarter valued at about $114,000. Finally, Louisiana State Employees Retirement System increased its stake in WSFS Financial by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock worth $1,419,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

WSFS Financial Price Performance

WSFS Financial stock opened at $52.24 on Tuesday. The company has a market cap of $3.14 billion, a P/E ratio of 11.66 and a beta of 1.02. WSFS Financial Co. has a one year low of $33.12 and a one year high of $58.59. The business has a fifty day moving average of $52.38 and a two-hundred day moving average of $47.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86.

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

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, August 9th. WSFS Financial’s dividend payout ratio is currently 13.39%.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total transaction of $715,712.76. Following the sale, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The transaction 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.

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.