Royce & Associates LP Raises Stock Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Royce & Associates LP grew its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 247.4% in the third quarter, Holdings Channel reports. The institutional investor owned 78,168 shares of the bank’s stock after acquiring an additional 55,668 shares during the quarter. Royce & Associates LP’s holdings in WSFS Financial were worth $3,986,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of WSFS Financial during the first quarter worth approximately $298,000. ProShare Advisors LLC grew its holdings in shares of WSFS Financial by 6.0% during the first quarter. ProShare Advisors LLC now owns 12,182 shares of the bank’s stock worth $550,000 after buying an additional 693 shares in the last quarter. Vanguard Group Inc. raised its position in shares of WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after buying an additional 372,402 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of WSFS Financial by 16.5% in the first quarter. Bessemer Group Inc. now owns 17,354 shares of the bank’s stock worth $784,000 after buying an additional 2,460 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in WSFS Financial by 5.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 53,103 shares of the bank’s stock worth $2,393,000 after acquiring an additional 2,708 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Stock Up 0.8 %

Shares of WSFS Financial stock opened at $57.91 on Tuesday. WSFS Financial Co. has a 52-week low of $37.09 and a 52-week high of $60.54. The company has a 50 day moving average of $51.68 and a 200 day moving average of $49.73. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.41 billion, a P/E ratio of 13.22 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, research analysts forecast that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

Analysts Set New Price Targets

WSFS has been the topic of several recent research reports. DA Davidson boosted their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stephens boosted their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Piper Sandler boosted their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, 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 note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.