First Trust Advisors LP Increases Stock Holdings in WSFS Financial Corporation $WSFS

Key Points

• First Trust Advisors increased its WSFS Financial stake by 17.9% in the first quarter, bringing its holdings to 107,196 shares worth approximately $7.0 million. Institutional investors and hedge funds collectively own 88.49% of the company.
• WSFS Financial exceeded quarterly expectations, reporting $1.66 earnings per share versus the $1.50 consensus estimate and revenue of $284.7 million, up 5.6% year over year.
• The bank declared a quarterly dividend of $0.20 per share, equal to a 1.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $81.64.

First Trust Advisors LP lifted its position in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 17.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 107,196 shares of the bank's stock after buying an additional 16,286 shares during the quarter. First Trust Advisors LP owned approximately 0.21% of WSFS Financial worth $7,017,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in WSFS. Root Financial Partners LLC increased its holdings in WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock valued at $28,000 after acquiring an additional 207 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial in the fourth quarter valued at about $33,000. Torren Management LLC purchased a new stake in shares of WSFS Financial in the fourth quarter valued at about $35,000. Clearstead Advisors LLC lifted its holdings in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock valued at $43,000 after purchasing an additional 489 shares in the last quarter. Finally, Quarry LP grew its position in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank's stock valued at $44,000 after purchasing an additional 500 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Price Performance

WSFS Financial stock opened at $80.20 on Monday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 13.41 and a beta of 0.76. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $82.30. 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 firm's 50-day moving average is $76.00 and its two-hundred day moving average is $69.70.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.16. The business had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company's revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. Equities analysts predict that WSFS Financial Corporation will post 6.51 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, August 7th. This represents a $0.80 annualized dividend and a yield of 1.0%. WSFS Financial's payout ratio is 13.38%.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, 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 completion of the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rodger Levenson sold 65,446 shares of the firm's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the sale, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on WSFS shares. Stephens reissued an "overweight" rating and set a $87.00 price objective on shares of WSFS Financial in a research note on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a report on Wednesday. UBS Group set a $76.00 target price on WSFS Financial in a report on Monday, April 27th. Finally, Piper Sandler reissued a "neutral" rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, WSFS Financial currently has an average rating of "Moderate Buy" and an average price target of $81.64.

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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