State of New Jersey Common Pension Fund D Decreases Holdings in WSFS Financial Co. (NASDAQ:WSFS)

State of New Jersey Common Pension Fund D decreased its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 32.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,078 shares of the bank’s stock after selling 20,624 shares during the period. State of New Jersey Common Pension Fund D’s holdings in WSFS Financial were worth $2,025,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in WSFS Financial during the first quarter valued at about $45,000. GAMMA Investing LLC boosted its holdings in WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after acquiring an additional 295 shares during the period. TFO Wealth Partners LLC grew its position in WSFS Financial by 115,450.0% during the 4th quarter. TFO Wealth Partners LLC now owns 2,311 shares of the bank’s stock worth $106,000 after acquiring an additional 2,309 shares during the last quarter. Innealta Capital LLC purchased a new position in WSFS Financial in the 2nd quarter worth approximately $114,000. Finally, SG Americas Securities LLC bought a new stake in WSFS Financial in the first quarter valued at approximately $298,000. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Down 1.9 %

Shares of WSFS Financial stock opened at $52.44 on Friday. The company’s fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $47.34. WSFS Financial Co. has a 12-month low of $33.12 and a 12-month high of $58.59. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.15 billion, a P/E ratio of 11.71 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The company had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. WSFS Financial’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 earnings per share. Research analysts anticipate that WSFS Financial Co. will post 4.33 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. WSFS Financial’s dividend payout ratio is presently 13.39%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stephens lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. DA Davidson boosted their price objective on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods increased their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Piper Sandler boosted their price target on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, WSFS Financial has a consensus rating of “Hold” and an average price target of $61.50.

Insider Buying and Selling

In related news, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at approximately $1,450,924.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is owned by insiders.

WSFS Financial Company 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.