Public Sector Pension Investment Board Buys 39,331 Shares of WSFS Financial Corporation (NASDAQ:WSFS)

Key Points

• The Public Sector Pension Investment Board increased its stake in WSFS Financial Corporation by 26.8%, owning approximately $9.65 million worth of shares after acquiring an additional 39,331 shares.
• WSFS Financial reported quarterly earnings of $1.27 per share, exceeding the estimated $1.13, and achieved a revenue of $267.5 million compared to expectations of $221.93 million.
• The company announced a quarterly dividend of $0.17, representing a 1.2% dividend yield, with the payout ratio currently at 14.91%.

Public Sector Pension Investment Board grew its holdings in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 26.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 186,061 shares of the bank's stock after acquiring an additional 39,331 shares during the quarter. Public Sector Pension Investment Board owned 0.33% of WSFS Financial worth $9,651,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc raised its stake in shares of WSFS Financial by 90.0% in the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after purchasing an additional 252 shares in the last quarter. CWM LLC raised its stake in shares of WSFS Financial by 72.7% in the first quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after purchasing an additional 295 shares in the last quarter. Sterling Capital Management LLC raised its stake in WSFS Financial by 804.4% during the fourth quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock worth $99,000 after acquiring an additional 1,657 shares in the last quarter. GAMMA Investing LLC raised its stake in WSFS Financial by 37.0% during the first quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock worth $106,000 after acquiring an additional 550 shares in the last quarter. Finally, KBC Group NV raised its stake in WSFS Financial by 6.8% during the first quarter. KBC Group NV now owns 3,081 shares of the bank's stock worth $160,000 after acquiring an additional 196 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Price Performance

Shares of WSFS stock traded down $0.83 during trading hours on Friday, hitting $55.13. 370,294 shares of the company's stock were exchanged, compared to its average volume of 352,249. The stock's 50-day moving average is $55.52 and its 200-day moving average is $53.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 12.09 and a beta of 0.89. 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 announced its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $267.50 million for 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 business's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.08 earnings per share. As a group, research analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Friday, August 8th. WSFS Financial's dividend payout ratio is presently 14.91%.

Analyst Ratings Changes

Several research firms have issued reports on WSFS. Wall Street Zen lowered WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. DA Davidson increased their price objective on WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods dropped their price objective on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research note on Monday, April 28th. Finally, Stephens reiterated an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $66.00.

WSFS Financial Company 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.