Raymond James & Associates Reduces Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

Raymond James & Associates lowered its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 22.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,878 shares of the bank’s stock after selling 24,627 shares during the quarter. Raymond James & Associates’ holdings in WSFS Financial were worth $4,328,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after acquiring an additional 372,402 shares during the period. Dimensional Fund Advisors LP raised its position in WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after purchasing an additional 110,279 shares in the last quarter. Champlain Investment Partners LLC raised its position in WSFS Financial by 14.1% during the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock valued at $58,379,000 after purchasing an additional 160,090 shares in the last quarter. American Century Companies Inc. raised its position in WSFS Financial by 27.9% during the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after purchasing an additional 191,566 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in WSFS Financial by 35.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 201,985 shares of the bank’s stock valued at $9,119,000 after purchasing an additional 53,292 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Trading Up 1.0 %

WSFS opened at $49.64 on Friday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 11.33 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial Co. has a 12 month low of $35.09 and a 12 month high of $58.59. The stock has a fifty day moving average price of $51.18 and a 200-day moving average price of $48.76.

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 firm had revenue of $267.61 million during 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 business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 EPS. As a group, equities research analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.21%. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stephens lifted their target price on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 target price (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. DA Davidson lifted their target price on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler lifted their target price on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, WSFS Financial currently has a consensus rating of “Hold” and a consensus target price 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.