Weiss Asset Management LP Makes New Investment in WSFS Financial Co. (NASDAQ:WSFS)

Weiss Asset Management LP purchased a new stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 18,278 shares of the bank's stock, valued at approximately $932,000.

Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in shares of WSFS Financial by 3.0% in the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank's stock valued at $154,519,000 after buying an additional 87,781 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $213,000. Centiva Capital LP purchased a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $441,000. Paloma Partners Management Co purchased a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $366,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of WSFS Financial during the 3rd quarter worth approximately $278,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

WSFS has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of WSFS Financial in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, WSFS Financial presently has a consensus rating of "Hold" and an average target price of $59.75.

WSFS Financial Stock Performance

WSFS Financial stock traded down $0.38 during midday trading on Monday, hitting $59.17. 200,415 shares of the company's stock were exchanged, compared to its average volume of 273,879. WSFS Financial Co. has a 12-month low of $40.19 and a 12-month high of $62.75. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 13.60 and a beta of 1.06. The firm's 50 day simple moving average is $54.11 and its 200 day simple moving average is $51.16.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.02. The company had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. WSFS Financial's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $1.23 EPS. Equities research analysts predict that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Friday, November 8th. WSFS Financial's 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.