Pzena Investment Management LLC Grows Holdings in WSFS Financial Corporation $WSFS

Key Points

• Pzena Investment Management LLC increased its holdings in WSFS Financial Corporation by 3.0%, owning approximately 1.43% of the company with a value of $44.6 million as of the end of the second quarter.
• Wall Street analysts have a consensus rating of “Moderate Buy” for WSFS Financial, with an average target price of $66.25, as several analysts have issued positive reports on the stock.
• WSFS Financial recently declared a quarterly dividend of $0.17, reflecting an annualized yield of 1.3% based on a payout ratio of 14.91%.

Pzena Investment Management LLC increased its position in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 811,169 shares of the bank's stock after acquiring an additional 23,360 shares during the quarter. Pzena Investment Management LLC owned about 1.43% of WSFS Financial worth $44,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WSFS. Boston Partners purchased a new stake in WSFS Financial during the 1st quarter valued at approximately $17,668,000. Nuveen LLC purchased a new stake in WSFS Financial during the 1st quarter valued at approximately $12,090,000. Cooke & Bieler LP grew its holdings in WSFS Financial by 14.0% during the 1st quarter. Cooke & Bieler LP now owns 892,286 shares of the bank's stock valued at $46,283,000 after buying an additional 109,519 shares in the last quarter. Jane Street Group LLC grew its holdings in WSFS Financial by 579.0% during the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank's stock valued at $6,093,000 after buying an additional 100,171 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in WSFS Financial during the 1st quarter valued at approximately $3,290,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WSFS shares. TD Cowen started coverage on shares of WSFS Financial in a report on Thursday, September 25th. They set a "buy" rating and a $67.00 price objective for the company. DA Davidson increased their price objective on shares of WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WSFS Financial in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $66.25.

WSFS Financial Stock Down 3.4%

Shares of WSFS opened at $51.60 on Monday. The company has a market cap of $2.89 billion, a PE ratio of 11.32 and a beta of 0.86. The business has a fifty day moving average of $55.57 and a 200 day moving average of $54.06. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $62.75. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share (EPS) for the quarter. The company had revenue of $161.68 million during the quarter. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%. On average, sell-side analysts expect that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.17 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.