Public Sector Pension Investment Board Raises Stock Holdings in WSFS Financial Corporation $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 increased its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,061 shares of the bank's stock after purchasing an additional 39,331 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.33% of WSFS Financial worth $9,651,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Xponance Inc. grew its stake in WSFS Financial by 4.9% in the first quarter. Xponance Inc. now owns 4,439 shares of the bank's stock worth $230,000 after purchasing an additional 209 shares in the last quarter. GAMMA Investing LLC boosted its position in WSFS Financial by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank's stock valued at $106,000 after acquiring an additional 550 shares in the last quarter. Principal Financial Group Inc. boosted its position in WSFS Financial by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank's stock valued at $16,820,000 after acquiring an additional 7,012 shares in the last quarter. Deutsche Bank AG boosted its position in WSFS Financial by 49.6% during the 4th quarter. Deutsche Bank AG now owns 51,747 shares of the bank's stock valued at $2,749,000 after acquiring an additional 17,165 shares in the last quarter. Finally, KBC Group NV boosted its position in WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after acquiring an additional 196 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Keefe, Bruyette & Woods dropped their target price on WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. 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. Wall Street Zen downgraded shares of WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Finally, DA Davidson upped their price target on WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $66.00.

WSFS Financial Stock Down 0.1%

Shares of WSFS Financial stock traded down $0.04 during trading on Monday, reaching $55.10. The company's stock had a trading volume of 68,053 shares, compared to its average volume of 333,142. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 12.09 and a beta of 0.89. WSFS Financial Corporation has a 1-year low of $42.44 and a 1-year high of $62.75. The company has a 50-day simple moving average of $55.52 and a two-hundred day simple moving average of $53.59.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. The firm 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 business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 EPS. As a group, equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 8th will be paid a $0.17 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.2%. WSFS Financial's dividend payout ratio (DPR) is 14.91%.

About WSFS Financial

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.