Raymond James Financial Inc. Takes Position in WSFS Financial Co. (NASDAQ:WSFS)

Raymond James Financial Inc. bought a new stake in WSFS Financial Co. (NASDAQ:WSFS - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 341,943 shares of the bank's stock, valued at approximately $18,167,000. Raymond James Financial Inc. owned about 0.58% of WSFS Financial at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in WSFS Financial by 2,500.0% during the 4th quarter. Farther Finance Advisors LLC now owns 572 shares of the bank's stock worth $30,000 after buying an additional 550 shares during the period. Crowley Wealth Management Inc. acquired a new position in shares of WSFS Financial during the fourth quarter worth $32,000. VSM Wealth Advisory LLC acquired a new position in shares of WSFS Financial during the fourth quarter worth $40,000. AlphaQuest LLC bought a new stake in shares of WSFS Financial in the fourth quarter worth $84,000. Finally, New Age Alpha Advisors LLC acquired a new stake in WSFS Financial in the fourth quarter valued at $149,000. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Trading Down 1.1 %

WSFS Financial stock traded down $0.60 during trading hours on Friday, reaching $51.56. 90,892 shares of the company's stock were exchanged, compared to its average volume of 293,305. The firm's 50 day simple moving average is $51.03 and its 200 day simple moving average is $53.55. WSFS Financial Co. has a twelve month low of $42.21 and a twelve month high of $62.75. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.99 billion, a PE ratio of 11.67 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.04 by $0.09. The business had revenue of $256.11 million during the quarter, compared to analysts' expectations of $235.44 million. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. Research analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on WSFS. Stephens reiterated an "overweight" rating and issued a $68.00 price target on shares of WSFS Financial in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $64.00 to $68.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $64.75.

Insider Activity

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the sale, the chief executive officer now directly owns 142,780 shares in the company, valued at approximately $7,881,456. This trade represents a 4.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.29% of the stock is currently owned by company insiders.

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.