Private Advisor Group LLC Trims Stake in WSFS Financial Co. (NASDAQ:WSFS)

Private Advisor Group LLC cut its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 0.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,655 shares of the bank’s stock after selling 205 shares during the quarter. Private Advisor Group LLC’s holdings in WSFS Financial were worth $1,461,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WSFS. Diversified Trust Co increased its position in shares of WSFS Financial by 41.6% in the first quarter. Diversified Trust Co now owns 11,157 shares of the bank’s stock valued at $504,000 after buying an additional 3,280 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of WSFS Financial by 51.4% in the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock valued at $1,361,000 after buying an additional 10,234 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of WSFS Financial in the first quarter valued at approximately $45,000. Texas Permanent School Fund Corp increased its position in shares of WSFS Financial by 1.0% in the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock valued at $2,392,000 after buying an additional 518 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of WSFS Financial in the first quarter valued at approximately $298,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

WSFS Financial Stock Performance

NASDAQ WSFS opened at $50.00 on Thursday. The stock’s fifty day moving average is $51.38 and its two-hundred day moving average is $48.70. The firm has a market capitalization of $2.96 billion, a P/E ratio of 11.42 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. WSFS Financial Co. has a fifty-two week low of $34.54 and a fifty-two week high of $58.59.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The company had revenue of $267.61 million for the quarter, compared to analyst estimates 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 for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 earnings per share. On average, research analysts anticipate that WSFS Financial Co. will post 4.32 earnings per share for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is currently 13.70%.

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.