Pzena Investment Management LLC Decreases Stake in WSFS Financial Co. (NASDAQ:WSFS)

Pzena Investment Management LLC cut its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 9.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 816,470 shares of the bank’s stock after selling 83,189 shares during the period. Pzena Investment Management LLC owned approximately 1.38% of WSFS Financial worth $41,632,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WSFS. SG Americas Securities LLC purchased a new position in WSFS Financial in the first quarter worth approximately $298,000. ProShare Advisors LLC boosted its position in shares of WSFS Financial by 6.0% in the first quarter. ProShare Advisors LLC now owns 12,182 shares of the bank’s stock worth $550,000 after acquiring an additional 693 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of WSFS Financial by 5.3% in the first 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. Bessemer Group Inc. boosted its position in shares of WSFS Financial by 16.5% in the first quarter. Bessemer Group Inc. now owns 17,354 shares of the bank’s stock worth $784,000 after acquiring an additional 2,460 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in shares of WSFS Financial by 5.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 53,103 shares of the bank’s stock worth $2,393,000 after acquiring an additional 2,708 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. DA Davidson lifted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Stephens lifted their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler lifted their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Performance

WSFS stock traded down $0.49 during trading on Wednesday, hitting $57.01. 26,407 shares of the company’s stock traded hands, compared to its average volume of 272,838. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial Co. has a 52 week low of $37.09 and a 52 week high of $60.54. The stock has a fifty day moving average price of $51.94 and a two-hundred day moving average price of $49.90. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 13.13 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.02. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The company had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, November 8th. WSFS Financial’s payout ratio is currently 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.