Raymond James & Associates Sells 24,627 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Raymond James & Associates decreased its stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 22.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,878 shares of the bank's stock after selling 24,627 shares during the period. Raymond James & Associates owned 0.14% of WSFS Financial worth $4,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new stake in WSFS Financial during the first quarter worth approximately $45,000. GAMMA Investing LLC grew its stake in WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank's stock worth $48,000 after purchasing an additional 295 shares during the period. Innealta Capital LLC acquired a new stake in WSFS Financial during the second quarter worth approximately $114,000. SG Americas Securities LLC acquired a new stake in WSFS Financial during the third quarter worth approximately $127,000. Finally, Ascent Group LLC bought a new position in WSFS Financial in the second quarter worth approximately $201,000. Institutional investors and hedge funds own 88.49% of the company's stock.

Analyst Ratings Changes

WSFS has been the topic of several recent research reports. Janney Montgomery Scott reiterated a "neutral" rating on shares of WSFS Financial in a report on Monday, October 28th. Stephens raised their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an "overweight" rating in a research report on Monday, July 29th. Piper Sandler raised their target price on WSFS Financial from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Finally, DA Davidson lifted their price target on WSFS Financial from $59.00 to $68.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, WSFS Financial has an average rating of "Hold" and an average target price of $59.75.

WSFS Financial Price Performance

NASDAQ:WSFS traded up $0.47 during trading hours on Friday, hitting $49.64. 212,035 shares of the company's stock traded hands, compared to its average volume of 246,096. The firm has a market cap of $2.94 billion, a P/E ratio of 11.33 and a beta of 1.02. WSFS Financial Co. has a 52 week low of $35.09 and a 52 week high of $58.59. The business's fifty day simple moving average is $51.18 and its two-hundred day simple moving average is $48.81. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. The company 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 firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $1.23 earnings per share. On average, research analysts anticipate that WSFS Financial Co. will post 4.27 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 paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, November 8th. WSFS Financial's dividend payout ratio is 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.