WSFS Financial Co. (NASDAQ:WSFS) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC cut its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 3.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 899,659 shares of the bank’s stock after selling 33,062 shares during the period. Pzena Investment Management LLC’s holdings in WSFS Financial were worth $42,284,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Jupiter Asset Management Ltd. purchased a new stake in shares of WSFS Financial in the first quarter valued at $1,253,000. Wedge Capital Management L L P NC increased its stake in shares of WSFS Financial by 29.2% during the 2nd quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock valued at $3,871,000 after acquiring an additional 18,636 shares during the last quarter. Norges Bank purchased a new position in shares of WSFS Financial during the 4th quarter worth about $31,369,000. BNP Paribas Financial Markets boosted its position in shares of WSFS Financial by 51.4% in the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock worth $1,361,000 after acquiring an additional 10,234 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after purchasing an additional 372,402 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,450,924.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target 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 boosted their price target on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler upped their price target on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, WSFS Financial currently has an average rating of “Hold” and a consensus price target of $61.50.

WSFS Financial Stock Down 2.3 %

Shares of WSFS Financial stock opened at $53.47 on Wednesday. WSFS Financial Co. has a twelve month low of $33.12 and a twelve month high of $58.59. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 11.94 and a beta of 1.02. 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 company has a fifty day moving average price of $51.57 and a 200 day moving average price of $46.52.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.04. The company had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.16 earnings per share. Equities research analysts forecast that WSFS Financial Co. will post 4.33 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. WSFS Financial’s dividend payout ratio is currently 13.39%.

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.