WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 9.2% in the third quarter, Holdings Channel.com reports. The fund owned 816,470 shares of the bank’s stock after selling 83,189 shares during the period. Pzena Investment Management LLC’s holdings in WSFS Financial were worth $41,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 worth $331,246,000 after buying an additional 372,402 shares during the period. American Century Companies Inc. raised its holdings in WSFS Financial by 27.9% during the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after buying an additional 191,566 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 worth $183,450,000 after buying an additional 110,279 shares during the period. Denali Advisors LLC acquired a new position in shares of WSFS Financial in the 2nd quarter valued at about $3,436,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of WSFS Financial in the 2nd quarter valued at about $2,664,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. DA Davidson upped their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler lifted their price objective on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Stephens increased their target price on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Finally, Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.75.

WSFS Financial Stock Performance

WSFS stock traded down $0.49 during trading on Wednesday, reaching $57.01. 26,407 shares of the stock were exchanged, compared to its average volume of 272,838. WSFS Financial Co. has a twelve month low of $37.09 and a twelve month high of $60.54. 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 has a 50 day simple moving average of $51.94 and a 200-day simple moving average of $49.90. The company has a market capitalization of $3.36 billion, a P/E ratio of 13.13 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million during the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $1.23 EPS. As a group, sell-side analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share 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 given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.05%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

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.