Aberdeen Group plc Cuts Holdings in WSFS Financial Corporation $WSFS

Key Points

• Aberdeen Group plc has reduced its stake in WSFS Financial Corporation by 16.0%, owning approximately 440,936 shares worth $24.25 million at the end of Q2.
• Several institutional investors have increased their holdings in WSFS Financial, with CWM LLC growing its stake by 72.7% in the first quarter.
• WSFS Financial's stock has a current consensus rating of "Moderate Buy" with an average price target of $66.25, following multiple positive analyst ratings.

Aberdeen Group plc lessened its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 440,936 shares of the bank's stock after selling 83,905 shares during the period. Aberdeen Group plc owned approximately 0.78% of WSFS Financial worth $24,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSFS. CWM LLC grew its stake in WSFS Financial by 72.7% in the 1st quarter. CWM LLC now owns 701 shares of the bank's stock worth $36,000 after buying an additional 295 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of WSFS Financial by 618.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank's stock worth $69,000 after acquiring an additional 1,076 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of WSFS Financial by 37.0% in the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock worth $106,000 after acquiring an additional 550 shares during the last quarter. KBC Group NV lifted its holdings in shares of WSFS Financial by 6.8% in the 1st quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after acquiring an additional 196 shares during the last quarter. Finally, United Services Automobile Association bought a new stake in shares of WSFS Financial in the 1st quarter worth approximately $204,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WSFS shares. Weiss Ratings restated a "buy (b-)" rating on shares of WSFS Financial in a report on Wednesday, October 8th. TD Cowen started coverage on shares of WSFS Financial in a report on Thursday, September 25th. They issued a "buy" rating and a $67.00 price objective for the company. Finally, DA Davidson boosted their price objective on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, WSFS Financial has a consensus rating of "Moderate Buy" and an average target price of $66.25.

WSFS Financial Stock Up 2.7%

Shares of WSFS Financial stock opened at $53.00 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The company's fifty day simple moving average is $55.54 and its two-hundred day simple moving average is $54.06. The company has a market cap of $2.97 billion, a P/E ratio of 11.62 and a beta of 0.86. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Tuesday, May 3rd. The bank reported $1.39 earnings per share (EPS) for the quarter. The business had revenue of $161.68 million for the quarter. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. Research analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.3%. WSFS Financial's dividend payout ratio is currently 14.91%.

WSFS Financial Profile

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.

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