Graham Capital Management L.P. Invests $1.03 Million in WSFS Financial Co. (NASDAQ:WSFS)

Graham Capital Management L.P. bought a new position in shares of WSFS Financial Co. (NASDAQ:WSFS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 19,448 shares of the bank’s stock, valued at approximately $1,033,000.

Several other institutional investors and hedge funds have also made changes to their positions in WSFS. Frontier Capital Management Co. LLC raised its position in shares of WSFS Financial by 7.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 718,978 shares of the bank’s stock valued at $38,199,000 after buying an additional 48,822 shares during the period. Deutsche Bank AG raised its position in shares of WSFS Financial by 49.6% during the 4th quarter. Deutsche Bank AG now owns 51,747 shares of the bank’s stock valued at $2,749,000 after buying an additional 17,165 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of WSFS Financial during the 4th quarter valued at approximately $232,000. Comerica Bank raised its position in shares of WSFS Financial by 16.2% during the 4th quarter. Comerica Bank now owns 53,964 shares of the bank’s stock valued at $2,867,000 after buying an additional 7,530 shares during the period. Finally, Lido Advisors LLC raised its position in shares of WSFS Financial by 35.2% during the 4th quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock valued at $339,000 after buying an additional 1,662 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of the company’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company’s stock.

WSFS Financial Stock Up 0.3%

NASDAQ:WSFS opened at $55.09 on Wednesday. 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 stock’s fifty day moving average is $50.76 and its two-hundred day moving average is $53.79. WSFS Financial Co. has a 52 week low of $42.21 and a 52 week high of $62.75. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.46 and a beta of 0.86.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, topping 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 analyst estimates of $235.44 million. During the same quarter in the prior year, the company earned $1.11 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 9th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.15. WSFS Financial’s dividend payout ratio is currently 15.28%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on WSFS shares. Keefe, Bruyette & Woods cut their target price on WSFS Financial from $66.00 to $64.00 and set a “market perform” rating on the stock in a research report on Monday, April 28th. Stephens restated an “overweight” rating and set a $64.00 price target on shares of WSFS Financial in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, WSFS Financial presently has a consensus rating of “Hold” and a consensus price target of $62.75.

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.