Sanctuary Advisors LLC Buys New Position in WSFS Financial Co. (NASDAQ:WSFS)

Sanctuary Advisors LLC bought a new stake in shares of WSFS Financial Co. (NASDAQ:WSFS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 6,413 shares of the bank’s stock, valued at approximately $275,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new position in WSFS Financial during the 1st quarter valued at about $1,253,000. Wedge Capital Management L L P NC boosted its holdings in WSFS Financial by 29.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock valued at $3,871,000 after acquiring an additional 18,636 shares during the period. BNP Paribas Financial Markets boosted its holdings in WSFS Financial by 51.4% during the 1st quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock valued at $1,361,000 after acquiring an additional 10,234 shares during the period. Vanguard Group Inc. boosted its holdings in WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after acquiring an additional 372,402 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in WSFS Financial by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock valued at $2,392,000 after acquiring an additional 518 shares during the period. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WSFS. Stephens lifted their price objective on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, Piper Sandler lifted 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.

WSFS Financial Price Performance

WSFS stock opened at $51.97 on Friday. The business has a 50 day moving average price of $51.43 and a 200 day moving average price of $48.33. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 11.60 and a beta of 1.01. WSFS Financial Co. has a fifty-two week low of $33.12 and a fifty-two week high of $58.59. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.46.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The firm had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The firm’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. Equities research analysts anticipate that WSFS Financial Co. will post 4.31 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, August 9th. WSFS Financial’s dividend payout ratio (DPR) is 13.39%.

Insiders Place Their Bets

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction that occurred 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 transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,450,924.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.29% of the stock is currently owned by corporate 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.