California State Teachers Retirement System Raises Stake in WSFS Financial Corporation $WSFS

Key Points

• California State Teachers Retirement System increased its WSFS Financial stake by 25.5% to 66,481 shares, while institutional investors collectively own 88.49% of the company.
• WSFS Financial exceeded quarterly earnings expectations, reporting $1.66 EPS versus the $1.50 consensus and revenue of $284.7 million, up 5.6% year over year.
• Analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $83.07; the company also declared a quarterly dividend of $0.20 per share.

California State Teachers Retirement System boosted its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 25.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,481 shares of the bank's stock after acquiring an additional 13,525 shares during the period. California State Teachers Retirement System owned about 0.13% of WSFS Financial worth $4,352,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Root Financial Partners LLC lifted its position in shares of WSFS Financial by 92.4% during the 1st 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. NewEdge Advisors LLC purchased a new stake in WSFS Financial during the 4th quarter worth about $33,000. Torren Management LLC acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $35,000. Clearstead Advisors LLC lifted its stake in WSFS Financial by 167.5% during the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock worth $43,000 after purchasing an additional 489 shares during the last quarter. Finally, Quarry LP lifted its stake in WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank's stock worth $44,000 after purchasing an additional 500 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the business's stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the business's stock in a transaction 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 sale, the executive vice president owned 15,207 shares in the company, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

WSFS has been the topic of several recent analyst reports. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Piper Sandler reaffirmed a "neutral" rating and issued a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. UBS Group set a $76.00 target price on WSFS Financial in a research report on Monday, April 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of WSFS Financial in a research note on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.07.

WSFS Financial Price Performance

WSFS Financial stock opened at $81.27 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.85. The business has a 50 day simple moving average of $76.98 and a 200-day simple moving average of $70.49. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $82.94. The stock has a market capitalization of $4.15 billion, a PE ratio of 13.59 and a beta of 0.77.

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

WSFS Financial Announces Dividend

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

WSFS Financial 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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