21,234 Shares in WSFS Financial Corporation $WSFS Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,234 shares of the bank's stock, valued at approximately $1,629,000.

A number of other large investors have also bought and sold shares of WSFS. BlackRock Inc. bought a new position in shares of WSFS Financial during the 2nd quarter worth $576,695,000. Franklin Resources Inc. raised its stake in WSFS Financial by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank's stock valued at $136,210,000 after acquiring an additional 32,423 shares during the period. Invesco Ltd. lifted its holdings in WSFS Financial by 6.1% during the fourth quarter. Invesco Ltd. now owns 1,066,591 shares of the bank's stock valued at $58,918,000 after purchasing an additional 60,931 shares during the last quarter. Cooke & Bieler LP lifted its holdings in WSFS Financial by 2.3% during the fourth quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank's stock valued at $58,328,000 after purchasing an additional 23,946 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new position in WSFS Financial during the second quarter worth about $68,174,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer owned 186,088 shares of the company's stock, valued at $13,790,981.68. This represents a 26.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 15,207 shares in the company, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

WSFS has been the topic of several research reports. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Stephens lowered shares of WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 price objective for the company. in a research note on Wednesday, August 12th. Piper Sandler reissued a "neutral" rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. DA Davidson set a $83.00 price target on WSFS Financial and gave the company a "neutral" rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.07.

WSFS Financial Price Performance

Shares of WSFS Financial stock opened at $79.37 on Friday. The firm has a market capitalization of $4.06 billion, a PE ratio of 13.27 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $82.94. The business's 50-day moving average price is $79.31 and its 200-day moving average price is $72.65.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating 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 business had revenue of $284.70 million for the quarter, compared to analysts' expectations of $278.41 million. During the same period last year, the business earned $1.27 earnings per share. The business's quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts forecast that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

About WSFS Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source