Strs Ohio Makes New Investment in WSFS Financial Corporation $WSFS

Key Points

• Strs Ohio has acquired a new stake in WSFS Financial Corporation, purchasing 6,300 shares valued at approximately $327,000 in the first quarter.
• Analysts have varied opinions on WSFS Financial, with one lowering its rating to "sell," while others have set a target price range of $66.00 to $70.00, indicating a mixed outlook.
• The company recently announced a quarterly dividend of $0.17 per share, reflecting an annual yield of 1.2% and a payout ratio of 14.91%.

Strs Ohio bought a new stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,300 shares of the bank's stock, valued at approximately $327,000.

A number of other institutional investors have also recently added to or reduced their stakes in WSFS. Intech Investment Management LLC raised its position in WSFS Financial by 21.8% in the first quarter. Intech Investment Management LLC now owns 31,594 shares of the bank's stock valued at $1,639,000 after purchasing an additional 5,649 shares during the period. Jane Street Group LLC grew its stake in shares of WSFS Financial by 579.0% in the first 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. United Services Automobile Association purchased a new stake in shares of WSFS Financial during the 1st quarter valued at about $204,000. Millennium Management LLC lifted its position in WSFS Financial by 230.4% during the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank's stock worth $3,772,000 after acquiring an additional 50,717 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in WSFS Financial by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank's stock worth $1,807,000 after acquiring an additional 1,176 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Wall Street Zen lowered shares of WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. DA Davidson lifted their price target on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.00.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $54.96 on Wednesday. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 12.05 and a beta of 0.91. 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 12-month low of $42.44 and a 12-month high of $62.75. The business has a 50 day simple moving average of $56.33 and a 200 day simple moving average of $53.86.

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 the consensus estimate of $1.13 by $0.14. The business had revenue of $267.50 million during the quarter, compared to the consensus estimate of $221.93 million. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 earnings per share. On average, equities research analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

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

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