Russell Investments Group Ltd. increased its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 87.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,402 shares of the bank’s stock after purchasing an additional 20,291 shares during the period. Russell Investments Group Ltd.’s holdings in WSFS Financial were worth $2,046,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of WSFS Financial by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 11,935 shares of the bank’s stock worth $572,000 after purchasing an additional 1,113 shares during the period. Amalgamated Bank bought a new stake in WSFS Financial during the 2nd quarter valued at $225,000. First Trust Advisors LP raised its holdings in WSFS Financial by 17.7% during the 2nd quarter. First Trust Advisors LP now owns 77,117 shares of the bank’s stock valued at $4,110,000 after acquiring an additional 11,597 shares during the period. Engineers Gate Manager LP bought a new stake in WSFS Financial during the 2nd quarter valued at $252,000. Finally, Rothschild Asset Management Inc. raised its holdings in WSFS Financial by 0.9% during the 2nd quarter. Rothschild Asset Management Inc. now owns 262,575 shares of the bank’s stock valued at $13,995,000 after acquiring an additional 2,252 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ:WSFS opened at $42.14 on Tuesday. WSFS Financial Co. has a 52-week low of $40.04 and a 52-week high of $57.70. The firm has a market capitalization of $1.32 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.99 and a beta of 1.11. The company has a quick ratio of 0.98, a current ratio of 0.99 and a debt-to-equity ratio of 0.68.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 6th were given a $0.11 dividend. The ex-dividend date was Monday, November 5th. This represents a $0.44 annualized dividend and a yield of 1.04%. WSFS Financial’s dividend payout ratio (DPR) is presently 17.19%.
In related news, CEO Mark A. Turner sold 42,000 shares of the company’s stock in a transaction on Thursday, September 6th. The shares were sold at an average price of $48.72, for a total value of $2,046,240.00. Following the completion of the transaction, the chief executive officer now directly owns 153,738 shares in the company, valued at $7,490,115.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark A. Turner sold 12,995 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $47.59, for a total transaction of $618,432.05. Following the completion of the transaction, the chief executive officer now owns 144,631 shares of the company’s stock, valued at $6,882,989.29. The disclosure for this sale can be found here. Insiders sold 80,695 shares of company stock valued at $3,893,389 over the last quarter. 5.73% of the stock is owned by company insiders.
Several research analysts have recently weighed in on WSFS shares. BidaskClub cut shares of WSFS Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 20th. ValuEngine cut shares of WSFS Financial from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Stephens reaffirmed a “buy” rating and issued a $58.00 price target on shares of WSFS Financial in a report on Monday, August 13th. Boenning Scattergood reaffirmed a “buy” rating on shares of WSFS Financial in a report on Tuesday, October 23rd. Finally, Sandler O’Neill reiterated a “buy” rating and issued a $63.00 target price on shares of WSFS Financial in a research report on Sunday, August 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $59.67.
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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.
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