Verdence Capital Advisors LLC Decreases Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Verdence Capital Advisors LLC trimmed its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 16.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,000 shares of the bank’s stock after selling 5,000 shares during the quarter. Verdence Capital Advisors LLC’s holdings in WSFS Financial were worth $1,275,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in WSFS. Jupiter Asset Management Ltd. bought a new stake in WSFS Financial in the first quarter worth $1,253,000. Wedge Capital Management L L P NC boosted its holdings in 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 period. BNP Paribas Financial Markets boosted its holdings in WSFS Financial by 51.4% during the 1st quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock valued at $1,361,000 after acquiring an additional 10,234 shares during the period. Vanguard Group Inc. grew its position in WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after acquiring an additional 372,402 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in WSFS Financial by 1.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock worth $2,392,000 after purchasing an additional 518 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on WSFS shares. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Piper Sandler raised their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. DA Davidson increased their target price 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. Finally, Stephens boosted their price target on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, WSFS Financial currently has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Trading Up 0.2 %

Shares of WSFS opened at $55.96 on Friday. WSFS Financial Co. has a 1-year low of $35.09 and a 1-year high of $59.26. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 12.78 and a beta of 1.02. The firm’s 50-day moving average price is $51.18 and its 200-day moving average price is $49.19. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 EPS. Sell-side analysts anticipate that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.07%. WSFS Financial’s dividend payout ratio (DPR) 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.