27,802 Shares in WSFS Financial Corporation $WSFS Purchased by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP purchased 27,802 WSFS Financial shares worth approximately $2.13 million, while institutional investors collectively own 88.49% of the company.
• Analysts maintain a generally neutral outlook, with an average “Hold” rating and an average price target of $83.07; WSFS shares recently opened at $80.66.
• WSFS exceeded quarterly earnings expectations, reporting $1.66 in EPS versus the $1.50 consensus estimate and $284.7 million in revenue. The company also paid a quarterly dividend of $0.20 per share, equivalent to a 1.0% annualized yield.

Engineers Gate Manager LP bought a new position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 27,802 shares of the bank's stock, valued at approximately $2,133,000. Engineers Gate Manager LP owned about 0.05% of WSFS Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its holdings in shares of WSFS Financial by 30.4% during the second quarter. Allworth Financial LP now owns 609 shares of the bank's stock worth $47,000 after purchasing an additional 142 shares in the last quarter. Root Financial Partners LLC increased its position in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock worth $28,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in WSFS Financial by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank's stock valued at $63,000 after purchasing an additional 221 shares in the last quarter. GAMMA Investing LLC raised its stake in WSFS Financial by 11.9% in the second quarter. GAMMA Investing LLC now owns 2,414 shares of the bank's stock valued at $185,000 after purchasing an additional 256 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in WSFS Financial by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 10,872 shares of the bank's stock valued at $601,000 after purchasing an additional 323 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Wall Street Analyst Weigh In

WSFS has been the topic of a number of research analyst reports. DA Davidson set a $83.00 price target on shares of WSFS Financial and gave the stock a "neutral" rating in a report on Monday, July 27th. Stephens cut shares of WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 price objective on the stock. in a research report on Wednesday, August 12th. Weiss Ratings raised shares of WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, August 31st. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Finally, Piper Sandler reissued a "neutral" rating and issued a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $83.07.

Insider Buying and Selling

In other WSFS Financial news, Director Michael Donahue sold 3,247 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the sale, the director owned 11,495 shares in the company, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the 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 of the company's stock, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company's stock.

WSFS Financial Price Performance

Shares of WSFS Financial stock opened at $80.66 on Wednesday. The firm has a market cap of $4.12 billion, a PE ratio of 13.49 and a beta of 0.76. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $82.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company's fifty day simple moving average is $79.68 and its two-hundred day simple moving average is $73.35.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. The firm had revenue of $284.70 million during the quarter, compared to the consensus estimate of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.27 earnings per share. As a group, equities analysts expect that WSFS Financial Corporation will post 6.58 EPS for the current year.

WSFS Financial Dividend Announcement

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

WSFS Financial Profile

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest locally managed banks in the United States.

WSFS Bank provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, mortgages, credit and debit cards, treasury management, and other deposit and credit products.

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