Graham Capital Management L.P. Increases Stock Holdings in WSFS Financial Corporation $WSFS

Key Points

• Graham Capital Management L.P. increased its holdings in WSFS Financial Corporation by 74.2%, owning 33,879 shares valued at approximately $1.76 million as of the latest filing.
• WSFS Financial reported earnings of $1.27 per share for the recent quarter, surpassing estimates and showing a slight revenue increase compared to the previous year.
• A quarterly dividend of $0.17 was paid recently, reflecting an annualized dividend yield of 1.2% and a dividend payout ratio of 14.91%.

Graham Capital Management L.P. raised its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 74.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,879 shares of the bank's stock after acquiring an additional 14,431 shares during the quarter. Graham Capital Management L.P. owned approximately 0.06% of WSFS Financial worth $1,757,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Xponance Inc. lifted its holdings in WSFS Financial by 4.9% in the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after acquiring an additional 209 shares during the period. GAMMA Investing LLC increased its position in WSFS Financial by 37.0% in the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock worth $106,000 after buying an additional 550 shares in the last quarter. Principal Financial Group Inc. increased its position in WSFS Financial by 2.2% in the first quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank's stock worth $16,820,000 after buying an additional 7,012 shares in the last quarter. Deutsche Bank AG increased its position in WSFS Financial by 49.6% in the fourth quarter. Deutsche Bank AG now owns 51,747 shares of the bank's stock worth $2,749,000 after buying an additional 17,165 shares in the last quarter. Finally, KBC Group NV increased its position in WSFS Financial by 6.8% in the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after buying an additional 196 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WSFS. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. DA Davidson raised their price target on WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, WSFS Financial has a consensus rating of "Moderate Buy" and an average price target of $66.00.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS traded down $0.01 during trading on Monday, hitting $58.28. 66,975 shares of the company's stock were exchanged, compared to its average volume of 327,571. The company has a market cap of $3.26 billion, a price-to-earnings ratio of 12.78 and a beta of 0.91. The business's 50-day simple moving average is $56.85 and its 200 day simple moving average is $53.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $62.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.14. The business had revenue of $267.50 million during the quarter, compared to analysts' expectations of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. As a group, equities analysts predict that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.2%. The ex-dividend date was Friday, August 8th. WSFS Financial's dividend payout ratio (DPR) 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.