Hsbc Holdings PLC Buys 16,671 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Hsbc Holdings PLC raised its position in shares of WSFS Financial Co. (NASDAQ:WSFS - Free Report) by 222.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,153 shares of the bank's stock after acquiring an additional 16,671 shares during the period. Hsbc Holdings PLC's holdings in WSFS Financial were worth $1,284,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in WSFS Financial by 2,500.0% in the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after purchasing an additional 550 shares during the period. Crowley Wealth Management Inc. purchased a new stake in shares of WSFS Financial in the fourth quarter worth approximately $32,000. VSM Wealth Advisory LLC bought a new stake in shares of WSFS Financial during the 4th quarter worth approximately $40,000. AlphaQuest LLC purchased a new position in WSFS Financial during the 4th quarter valued at $84,000. Finally, Sterling Capital Management LLC grew its position in WSFS Financial by 804.4% in the 4th quarter. Sterling Capital Management LLC now owns 1,863 shares of the bank's stock valued at $99,000 after acquiring an additional 1,657 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

Insider Transactions at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the sale, the chief executive officer now directly owns 142,780 shares of the company's stock, valued at $7,881,456. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

WSFS has been the subject of a number of recent analyst reports. Stephens reissued an "overweight" rating and set a $64.00 target price on shares of WSFS Financial in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their price objective on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.75.

WSFS Financial Stock Performance

NASDAQ:WSFS traded up $0.56 during midday trading on Thursday, hitting $53.37. The company's stock had a trading volume of 28,802 shares, compared to its average volume of 294,340. The firm has a market cap of $3.10 billion, a P/E ratio of 12.07 and a beta of 0.86. WSFS Financial Co. has a fifty-two week low of $42.21 and a fifty-two week high of $62.75. The firm's 50 day moving average is $50.62 and its 200-day moving average is $53.65. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.04 by $0.09. The company had revenue of $256.11 million for the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The firm's revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 earnings per share. Equities analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. This is an increase from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio is presently 15.28%.

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.