Virtu Financial LLC bought a new stake in WSFS Financial Co. (NASDAQ:WSFS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,722 shares of the bank’s stock, valued at approximately $347,000.
A number of other institutional investors also recently modified their holdings of the business. Toronto Dominion Bank acquired a new position in shares of WSFS Financial during the fourth quarter worth $49,000. Advisors Asset Management Inc. lifted its holdings in WSFS Financial by 161.3% in the third quarter. Advisors Asset Management Inc. now owns 5,808 shares of the bank’s stock valued at $157,000 after buying an additional 3,585 shares during the period. DF Dent & Co. Inc. acquired a new position in WSFS Financial in the fourth quarter valued at $201,000. Teacher Retirement System of Texas acquired a new position in WSFS Financial in the fourth quarter valued at $210,000. Finally, Cubist Systematic Strategies LLC acquired a new position in WSFS Financial in the third quarter valued at $222,000. Hedge funds and other institutional investors own 83.76% of the company’s stock.
In related news, Director Mark A. Turner sold 40,415 shares of the stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $52.22, for a total transaction of $2,110,471.30. Following the transaction, the director now owns 103,654 shares of the company’s stock, valued at approximately $5,412,811.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Richard Wright sold 3,099 shares of the stock in a transaction on Friday, March 12th. The shares were sold at an average price of $52.00, for a total transaction of $161,148.00. Following the transaction, the executive vice president now directly owns 56,369 shares in the company, valued at approximately $2,931,188. The disclosure for this sale can be found here. 1.85% of the stock is owned by corporate insiders.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Sunday, January 24th. The bank reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.25. The firm had revenue of $169.63 million for the quarter, compared to analyst estimates of $159.72 million. WSFS Financial had a net margin of 13.83% and a return on equity of 4.91%. As a group, equities research analysts expect that WSFS Financial Co. will post 1.06 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Thursday, February 11th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, February 10th. WSFS Financial’s payout ratio is 12.83%.
Several equities research analysts have weighed in on the stock. Boenning Scattergood reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Wednesday, March 10th. Zacks Investment Research raised shares of WSFS Financial from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Wednesday, March 17th. Keefe, Bruyette & Woods downgraded shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $50.00 price objective for the company. in a research report on Thursday, February 25th. DA Davidson reaffirmed a “neutral” rating on shares of WSFS Financial in a research report on Wednesday, March 17th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $55.00 target price (up from $50.00) on shares of WSFS Financial in a research note on Monday, March 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. WSFS Financial presently has a consensus rating of “Hold” and an average target price of $54.00.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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