Fmr LLC Increases Stake in WSFS Financial Co. (NASDAQ:WSFS)

Fmr LLC increased its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,283 shares of the bank’s stock after buying an additional 239 shares during the period. Fmr LLC’s holdings in WSFS Financial were worth $218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in shares of WSFS Financial by 5,000.0% in the 3rd quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of WSFS Financial by 41.8% during the third quarter. GAMMA Investing LLC now owns 1,451 shares of the bank’s stock worth $74,000 after purchasing an additional 428 shares in the last quarter. Innealta Capital LLC purchased a new position in WSFS Financial in the second quarter valued at $114,000. SG Americas Securities LLC acquired a new stake in WSFS Financial in the third quarter valued at $127,000. Finally, CIBC Asset Management Inc acquired a new stake in WSFS Financial in the third quarter valued at $202,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Stock Up 0.6 %

WSFS opened at $52.90 on Friday. WSFS Financial Co. has a one year low of $40.19 and a one year high of $62.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $3.12 billion, a P/E ratio of 12.08 and a beta of 1.06. The business’s 50-day simple moving average is $55.56 and its 200-day simple moving average is $52.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, topping the consensus estimate 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 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. Analysts anticipate that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were given a $0.15 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.13%. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

Wall Street Analyst Weigh In

WSFS has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.