Nisa Investment Advisors LLC raised its holdings in WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 30.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,900 shares of the bank’s stock after acquiring an additional 1,150 shares during the period. Nisa Investment Advisors LLC’s holdings in WSFS Financial were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WSFS. Point72 Hong Kong Ltd acquired a new stake in WSFS Financial during the fourth quarter worth approximately $32,000. Harbor Investment Advisory LLC grew its position in WSFS Financial by 43.5% during the first quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank’s stock worth $96,000 after buying an additional 621 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in WSFS Financial during the first quarter worth approximately $117,000. Advisor Group Holdings Inc. boosted its holdings in shares of WSFS Financial by 406.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 2,442 shares of the bank’s stock valued at $127,000 after purchasing an additional 1,960 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC acquired a new stake in shares of WSFS Financial in the 1st quarter valued at $141,000. 70.92% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
WSFS has been the topic of a number of research analyst reports. Stephens reduced their target price on WSFS Financial from $53.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, April 25th. Piper Sandler raised their target price on WSFS Financial to $58.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, StockNews.com downgraded WSFS Financial from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.00.
WSFS Financial Stock Up 3.6 %
Shares of WSFS opened at $45.83 on Thursday. WSFS Financial Co. has a 52 week low of $37.03 and a 52 week high of $56.30. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 13.80 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.77. The stock has a fifty day moving average of $41.17 and a 200-day moving average of $45.56.
WSFS Financial (NASDAQ:WSFS – Get Rating) last announced its quarterly earnings results on Monday, July 25th. The bank reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. WSFS Financial had a return on equity of 10.14% and a net margin of 23.44%. During the same period in the previous year, the business posted $2.00 earnings per share. As a group, sell-side analysts anticipate that WSFS Financial Co. will post 4.07 earnings per share for the current fiscal year.
WSFS Financial Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 4th. WSFS Financial’s dividend payout ratio is presently 15.66%.
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.
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