American Century Companies Inc. Decreases Stock Holdings in WSFS Financial Corporation $WSFS

Key Points

• American Century Companies Inc. decreased its WSFS stake by 9.3%, selling 72,063 shares and holding 702,145 shares valued at about $37.87 million (≈1.28% of the company) after the third quarter.
• Insiders have been net sellers: EVPs James Wechsler and Arthur Bacci recently sold shares and insiders disposed of 3,455 shares worth $242,923 over the last 90 days, leaving company insiders with a 1.10% ownership stake.
• Financial and market snapshot: WSFS reported EPS of $1.43 (beating estimates) with revenue up 4% year-over-year, a market cap of $3.32 billion and a PE of 12.35; the stock pays a $0.17 quarterly dividend (1.1% yield) and carries a consensus analyst rating of "Moderate Buy" with a $69.80 target.

American Century Companies Inc. decreased its holdings in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 9.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 702,145 shares of the bank's stock after selling 72,063 shares during the quarter. American Century Companies Inc. owned about 1.28% of WSFS Financial worth $37,867,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its position in WSFS Financial by 102.6% during the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank's stock valued at $537,000 after buying an additional 5,240 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in WSFS Financial by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank's stock worth $1,807,000 after buying an additional 1,176 shares during the last quarter. Millennium Management LLC lifted its stake in shares of WSFS Financial by 230.4% in the first quarter. Millennium Management LLC now owns 72,726 shares of the bank's stock worth $3,772,000 after buying an additional 50,717 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of WSFS Financial during the first quarter valued at approximately $204,000. Finally, Jane Street Group LLC grew its holdings in shares of WSFS Financial by 579.0% during the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank's stock valued at $6,093,000 after buying an additional 100,171 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Transactions at WSFS Financial

In other news, EVP James J. Wechsler sold 450 shares of the company's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the sale, the executive vice president owned 5,777 shares in the company, valued at $403,754.53. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur J. Bacci sold 2,005 shares of WSFS Financial stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $70.51, for a total value of $141,372.55. Following the transaction, the executive vice president owned 26,366 shares of the company's stock, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,455 shares of company stock worth $242,923. Company insiders own 1.10% of the company's stock.

WSFS Financial Price Performance

WSFS opened at $62.98 on Friday. The firm has a market capitalization of $3.32 billion, a PE ratio of 12.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The business's 50-day moving average is $62.21 and its two-hundred day moving average is $57.69. WSFS Financial Corporation has a 1 year low of $42.44 and a 1 year high of $71.32.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The company had revenue of $90.08 million during the quarter, compared to the consensus estimate of $267.36 million. During the same period last year, the firm earned $1.11 earnings per share. WSFS Financial's revenue was up 4.0% compared to the same quarter last year. Research analysts anticipate that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, February 13th. WSFS Financial's payout ratio is presently 13.33%.

Analysts Set New Price Targets

WSFS has been the subject of several research reports. Stephens reissued an "overweight" rating and set a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective on WSFS Financial from $63.00 to $70.00 and gave the company a "market perform" rating in a research report on Thursday, January 29th. TD Cowen reissued a "buy" rating on shares of WSFS Financial in a report on Wednesday, January 28th. Piper Sandler raised their target price on WSFS Financial from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, January 29th. Finally, Zacks Research raised WSFS Financial from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.80.

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.

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