Wedge Capital Management L L P NC Acquires 18,636 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Wedge Capital Management L L P NC increased its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 29.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,371 shares of the bank’s stock after buying an additional 18,636 shares during the period. Wedge Capital Management L L P NC’s holdings in WSFS Financial were worth $3,871,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in WSFS. Diversified Trust Co raised its stake in shares of WSFS Financial by 2.0% in the second quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock valued at $535,000 after buying an additional 225 shares during the period. GAMMA Investing LLC lifted its holdings in WSFS Financial by 40.5% during the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after purchasing an additional 295 shares during the last quarter. Texas Permanent School Fund Corp lifted its holdings in WSFS Financial by 1.0% during the first quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock valued at $2,392,000 after purchasing an additional 518 shares during the last quarter. Westover Capital Advisors LLC increased its stake in shares of WSFS Financial by 8.6% in the fourth quarter. Westover Capital Advisors LLC now owns 6,641 shares of the bank’s stock worth $305,000 after purchasing an additional 526 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of WSFS Financial by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,880 shares of the bank’s stock valued at $1,281,000 after purchasing an additional 538 shares during the period. Institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WSFS. DA Davidson raised their price objective on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Stephens lifted 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. Finally, Piper Sandler increased their price objective on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.50.

WSFS Financial Price Performance

NASDAQ WSFS traded up $1.37 on Thursday, hitting $50.57. The stock had a trading volume of 191,227 shares, compared to its average volume of 275,684. The firm has a 50-day moving average of $49.09 and a 200-day moving average of $45.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86. WSFS Financial Co. has a 52-week low of $33.12 and a 52-week high of $58.59. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 11.38 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly 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 firm had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities analysts expect that WSFS Financial Co. will post 4.31 EPS for the current year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.19%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Insider Buying and Selling

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total transaction of $715,712.76. Following the completion of the sale, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.29% of the stock is owned by company insiders.

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.