Denali Advisors LLC Acquires New Shares in WSFS Financial Co. (NASDAQ:WSFS)

Denali Advisors LLC acquired a new stake in WSFS Financial Co. (NASDAQ:WSFS) in the second quarter, according to its most recent filing with the SEC. The fund acquired 73,100 shares of the bank’s stock, valued at approximately $3,436,000. Denali Advisors LLC owned approximately 0.12% of WSFS Financial at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after buying an additional 372,402 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in WSFS Financial by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after buying an additional 110,279 shares in the last quarter. Franklin Resources Inc. grew its stake in WSFS Financial by 8.8% in the 4th quarter. Franklin Resources Inc. now owns 2,886,034 shares of the bank’s stock valued at $132,556,000 after buying an additional 232,508 shares in the last quarter. Champlain Investment Partners LLC grew its stake in WSFS Financial by 14.1% in the 1st quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock valued at $58,379,000 after buying an additional 160,090 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after buying an additional 191,566 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Stock Up 0.5 %

Shares of NASDAQ:WSFS opened at $52.24 on Tuesday. WSFS Financial Co. has a 52-week low of $33.12 and a 52-week high of $58.59. The firm has a fifty day moving average of $52.51 and a 200 day moving average of $47.11. The firm has a market capitalization of $3.14 billion, a PE ratio of 11.66 and a beta of 1.02. 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 (NASDAQ:WSFS) last announced its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.04. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The company had revenue of $266.00 million during the quarter, compared to analyst estimates of $254.48 million. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, research analysts anticipate that WSFS Financial Co. will post 4.33 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.15 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.60 annualized dividend and a yield of 1.15%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stephens boosted their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. Piper Sandler boosted their price target on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, DA Davidson boosted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.50.

Insider Buying and Selling

In related news, EVP Stephen P. Clark sold 12,663 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.29% of the stock is owned by company insiders.

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.