WSFS Financial Co. (NASDAQ:WSFS) Sees Significant Decrease in Short Interest

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 1,110,000 shares, a decline of 19.6% from the September 30th total of 1,380,000 shares. Based on an average trading volume of 267,300 shares, the days-to-cover ratio is currently 4.2 days.

WSFS Financial Price Performance

Shares of WSFS traded down $1.63 during mid-day trading on Friday, hitting $49.10. 280,864 shares of the company traded hands, compared to its average volume of 271,107. WSFS Financial has a one year low of $33.69 and a one year 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 business has a 50-day moving average of $51.45 and a 200 day moving average of $48.60. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.96 and a beta of 1.01.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The business had revenue of $267.61 million for the quarter, compared to analysts' expectations of $260.35 million. During the same period in the prior year, the firm earned $1.23 earnings per share. WSFS Financial's revenue was up .6% compared to the same quarter last year. As a group, equities analysts expect that WSFS Financial will post 4.31 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.22%. WSFS Financial's dividend payout ratio is currently 13.39%.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the company's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total transaction of $715,712.76. Following the sale, the executive vice president now directly owns 25,671 shares of the company's stock, valued at approximately $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WSFS Financial

Large investors have recently bought and sold shares of the business. Fidelis Capital Partners LLC acquired a new position in WSFS Financial in the first quarter valued at approximately $45,000. International Assets Investment Management LLC lifted its holdings in WSFS Financial by 5,000.0% in the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank's stock valued at $47,000 after buying an additional 900 shares during the period. GAMMA Investing LLC lifted its holdings in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank's stock valued at $48,000 after buying an additional 295 shares during the period. Innealta Capital LLC acquired a new position in WSFS Financial in the second quarter valued at approximately $114,000. Finally, SG Americas Securities LLC acquired a new stake in WSFS Financial in the third quarter worth $127,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WSFS has been the topic of several research analyst reports. DA Davidson upped their price objective on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a "market perform" rating in a research note on Monday, July 29th. Stephens increased their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the company an "overweight" rating in a research note on Monday, July 29th. Finally, Piper Sandler increased their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th.

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.