Royce & Associates LP Raises Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Royce & Associates LP boosted its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 247.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,168 shares of the bank’s stock after buying an additional 55,668 shares during the period. Royce & Associates LP owned approximately 0.13% of WSFS Financial worth $3,986,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its holdings in shares of WSFS Financial by 5,000.0% in the 3rd quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after acquiring an additional 900 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of WSFS Financial by 40.5% in the 2nd 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. Innealta Capital LLC purchased a new position in shares of WSFS Financial in the 2nd quarter worth approximately $114,000. SG Americas Securities LLC bought a new position in shares of WSFS Financial during the 3rd quarter valued at approximately $127,000. Finally, CIBC Asset Management Inc purchased a new stake in WSFS Financial during the 3rd quarter valued at $202,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

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

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $57.91 on Tuesday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 13.22 and a beta of 1.02. WSFS Financial Co. has a 52 week low of $37.09 and a 52 week high of $60.54. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average price of $51.68 and a 200 day moving average price of $49.73.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The firm had revenue of $267.61 million for the quarter, compared to analyst estimates of $260.35 million. During the same period in the previous year, the company earned $1.23 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts expect 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 will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is 13.70%.

WSFS Financial 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.