State of Tennessee Department of Treasury Buys 9,663 Shares of WSFS Financial Co. (NASDAQ:WSFS)

State of Tennessee Department of Treasury lifted its stake in WSFS Financial Co. (NASDAQ:WSFS) by 60.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,536 shares of the bank’s stock after acquiring an additional 9,663 shares during the period. State of Tennessee Department of Treasury’s holdings in WSFS Financial were worth $1,357,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in shares of WSFS Financial by 309.9% in the fourth quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank’s stock worth $89,674,000 after acquiring an additional 1,276,078 shares during the period. Cooke & Bieler LP boosted its stake in WSFS Financial by 1.5% during the fourth quarter. Cooke & Bieler LP now owns 782,767 shares of the bank’s stock valued at $41,588,000 after buying an additional 11,414 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in WSFS Financial by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank’s stock valued at $39,347,000 after buying an additional 19,650 shares during the period. Norges Bank bought a new stake in WSFS Financial during the fourth quarter valued at $32,775,000. Finally, Raymond James Financial Inc. bought a new stake in WSFS Financial during the fourth quarter valued at $18,167,000. 88.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stephens reissued an “overweight” rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday. Keefe, Bruyette & Woods dropped their price objective on WSFS Financial from $66.00 to $64.00 and set a “market perform” rating for the company in a research note on Monday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, WSFS Financial presently has a consensus rating of “Hold” and an average price target of $62.75.

Insider Buying and Selling at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following the completion of the sale, the chief executive officer now owns 142,780 shares of the company’s stock, valued at approximately $7,881,456. This represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.29% of the company’s stock.

WSFS Financial Trading Down 1.3 %

NASDAQ WSFS opened at $51.55 on Thursday. The stock’s 50-day simple moving average is $50.70 and its two-hundred day simple moving average is $53.62. WSFS Financial Co. has a twelve month low of $42.21 and a twelve month high of $62.75. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 11.66 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.09. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The business had revenue of $256.11 million for the quarter, compared to the consensus estimate of $235.44 million. During the same quarter last year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts forecast that WSFS Financial Co. will post 4.47 EPS for the current fiscal year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.17 dividend. This is a boost from WSFS Financial’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Friday, May 9th. WSFS Financial’s payout ratio is 15.28%.

About WSFS Financial

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.