Norges Bank Purchases Shares of 616,887 WSFS Financial Co. (NASDAQ:WSFS)

Norges Bank bought a new stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 616,887 shares of the bank's stock, valued at approximately $32,775,000. Norges Bank owned about 1.05% of WSFS Financial as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC raised its stake in shares of WSFS Financial by 2,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock valued at $30,000 after purchasing an additional 550 shares in the last quarter. Crowley Wealth Management Inc. bought a new stake in shares of WSFS Financial during the fourth quarter valued at about $32,000. VSM Wealth Advisory LLC bought a new stake in shares of WSFS Financial during the fourth quarter valued at about $40,000. AlphaQuest LLC bought a new stake in shares of WSFS Financial during the fourth quarter valued at about $84,000. Finally, KBC Group NV raised its position in WSFS Financial by 68.4% in the fourth quarter. KBC Group NV now owns 2,885 shares of the bank's stock worth $153,000 after acquiring an additional 1,172 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on WSFS. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $64.00 to $68.00 and gave the stock a "market perform" rating in a research report on Monday, February 3rd. Stephens reiterated an "overweight" rating and issued a $68.00 price target on shares of WSFS Financial in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, WSFS Financial has a consensus rating of "Hold" and an average target price of $64.75.

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WSFS Financial Trading Down 4.6 %

WSFS traded down $2.25 during trading on Thursday, reaching $46.99. The company had a trading volume of 81,522 shares, compared to its average volume of 312,815. The firm's 50-day simple moving average is $52.99 and its 200 day simple moving average is $53.69. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 10.63 and a beta of 0.90. WSFS Financial Co. has a 12-month low of $41.33 and a 12-month high of $62.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. Equities research analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.28%. WSFS Financial's dividend payout ratio (DPR) is presently 13.57%.

Insider Transactions at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at approximately $7,881,456. The trade was a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.29% of the company's stock.

WSFS Financial 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.