13,898 Shares in WSFS Financial Corporation $WSFS Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new stake in WSFS Financial Corporation (NASDAQ:WSFS) in the second quarter, HoldingsChannel.com reports. The fund acquired 13,898 shares of the bank’s stock, valued at approximately $1,066,000.

Other institutional investors also recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new position in shares of WSFS Financial during the 4th quarter worth approximately $2,425,000. Assenagon Asset Management S.A. acquired a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $1,384,000. California State Teachers Retirement System boosted its stake in shares of WSFS Financial by 25.5% in the first quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock valued at $4,352,000 after buying an additional 13,525 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of WSFS Financial in the second quarter valued at approximately $1,265,000. Finally, Fifth Third Bancorp grew its holdings in WSFS Financial by 11,821.6% during the first quarter. Fifth Third Bancorp now owns 28,731 shares of the bank’s stock worth $1,881,000 after acquiring an additional 28,490 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Performance

NASDAQ:WSFS opened at $77.45 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $79.20 and a two-hundred day moving average price of $72.37. WSFS Financial Corporation has a twelve month low of $49.92 and a twelve month high of $82.94. The company has a market capitalization of $3.96 billion, a P/E ratio of 12.95 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.41 million. During the same quarter in the previous year, the business posted $1.27 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts expect that WSFS Financial Corporation will post 6.58 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Friday, August 7th. WSFS Financial’s payout ratio is currently 13.38%.

Wall Street Analyst Weigh In

WSFS has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price target on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Stephens lowered shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a research report on Wednesday, August 12th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.07.

Insider Activity at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer owned 186,088 shares in the company, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shari Kruzinski sold 3,500 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president directly owned 15,207 shares of the company’s stock, valued at $1,243,020.18. The trade was a 18.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.