WSFS Financial Corporation $WSFS Stock Acquired by Verdence Capital Advisors LLC

Key Points

• Verdence Capital Advisors increased its WSFS Financial stake by 173.1% in the third quarter, bringing its holdings to 38,239 shares valued at approximately $2.89 million. Institutional investors collectively own 88.49% of the company.
• WSFS reported quarterly EPS of $1.75, exceeding analysts’ $1.62 estimate, while revenue rose 6.3% year over year to $287.57 million, slightly below expectations.
• The company declared a quarterly dividend of $0.20 per share, equivalent to $0.80 annually and a 1.0% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $84.21, compared with the stock’s $78.85 price.

Verdence Capital Advisors LLC raised its holdings in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 173.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,239 shares of the bank's stock after buying an additional 24,239 shares during the period. Verdence Capital Advisors LLC owned approximately 0.07% of WSFS Financial worth $2,890,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WSFS. Root Financial Partners LLC lifted its stake in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock worth $28,000 after acquiring an additional 207 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $40,000. Allworth Financial LP purchased a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $47,000. Reyes Financial Architecture Inc. purchased a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $62,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of WSFS Financial in the 2nd quarter valued at $64,000. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Stock Down 0.9%

NASDAQ:WSFS opened at $78.85 on Wednesday. The company has a market capitalization of $4.03 billion, a PE ratio of 12.40 and a beta of 0.84. WSFS Financial Corporation has a 52-week low of $50.79 and a 52-week high of $82.94. The stock's 50 day moving average price is $77.90 and its 200 day moving average price is $72.23.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.13. The firm had revenue of $287.57 million during the quarter, compared to analysts' expectations of $289.82 million. WSFS Financial's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.37 EPS. As a group, sell-side analysts anticipate that WSFS Financial Corporation will post 6.63 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 6th. WSFS Financial's payout ratio is presently 12.58%.

Analyst Ratings Changes

Several research firms have recently issued reports on WSFS. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a "neutral" rating in a research report on Monday, July 27th. TD Cowen reissued a "buy" rating and issued a $90.00 target price (up from $89.00) on shares of WSFS Financial in a report on Monday. Stephens lowered WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 target price on the stock. in a report on Wednesday, August 12th. Keefe, Bruyette & Woods raised their price target on WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Finally, Weiss Ratings raised WSFS Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $84.21.

Insider Activity at WSFS Financial

In related news, Director Michael Donahue sold 3,247 shares of the company's stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the sale, the director owned 11,495 shares in the company, valued at $913,392.70. This represents a 22.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by insiders.

About WSFS Financial

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.

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