Louisiana State Employees Retirement System Decreases Position in WSFS Financial Co. (NASDAQ:WSFS)

Louisiana State Employees Retirement System decreased its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,700 shares of the bank’s stock after selling 1,500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in WSFS Financial were worth $1,463,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in WSFS Financial by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in WSFS Financial by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after purchasing an additional 110,279 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in WSFS Financial by 14.1% during the first quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after purchasing an additional 160,090 shares during the last quarter. American Century Companies Inc. lifted its stake in WSFS Financial by 27.9% during the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after purchasing an additional 191,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in WSFS Financial by 35.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 201,985 shares of the bank’s stock worth $9,119,000 after purchasing an additional 53,292 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Trading Down 1.7 %

NASDAQ:WSFS opened at $49.17 on Friday. The firm has a market cap of $2.91 billion, a P/E ratio of 11.23 and a beta of 1.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $51.35 and its 200-day simple moving average is $48.71. WSFS Financial Co. has a 12-month low of $34.54 and a 12-month high of $58.59.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The business 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 company’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. Equities analysts anticipate that WSFS Financial Co. will post 4.32 EPS for the current year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.22%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

Wall Street Analyst Weigh In

Several research firms have commented on WSFS. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday. Stephens lifted 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. DA Davidson lifted 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. Piper Sandler lifted 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. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research report on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $59.75.

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.