Raymond James Financial Inc. purchased a new stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 341,943 shares of the bank's stock, valued at approximately $18,167,000. Raymond James Financial Inc. owned 0.58% of WSFS Financial as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of WSFS. KBC Group NV increased its stake in shares of WSFS Financial by 68.4% during the fourth quarter. KBC Group NV now owns 2,885 shares of the bank's stock worth $153,000 after purchasing an additional 1,172 shares during the period. Smartleaf Asset Management LLC increased its position in WSFS Financial by 32.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,304 shares of the bank's stock worth $176,000 after buying an additional 804 shares during the period. CIBC Asset Management Inc acquired a new stake in shares of WSFS Financial during the third quarter worth $202,000. Crossmark Global Holdings Inc. bought a new stake in shares of WSFS Financial in the fourth quarter valued at about $207,000. Finally, Point72 DIFC Ltd acquired a new position in shares of WSFS Financial in the third quarter valued at about $213,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.29% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on WSFS. Keefe, Bruyette & Woods boosted their price objective on shares of WSFS Financial from $64.00 to $68.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Stephens reissued an "overweight" rating and set a $68.00 price target on shares of WSFS Financial in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have given 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 $64.75.
Get Our Latest Research Report on WSFS Financial
WSFS Financial Price Performance
WSFS Financial stock traded up $0.37 during midday trading on Friday, reaching $52.05. The company's stock had a trading volume of 1,056,811 shares, compared to its average volume of 266,496. The stock has a market cap of $3.05 billion, a PE ratio of 11.78 and a beta of 1.06. The company has a current ratio of 0.83, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. WSFS Financial Co. has a 52 week low of $41.33 and a 52 week high of $62.75. The business has a 50-day moving average price of $54.19 and a 200-day moving average price of $53.90.
WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. On average, sell-side analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.
WSFS Financial Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.15 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.60 annualized dividend and a yield of 1.15%. WSFS Financial's payout ratio is currently 13.57%.
About WSFS Financial
(
Free Report)
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.
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