Haverford Trust Co Cuts Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

Haverford Trust Co reduced its position in WSFS Financial Co. (NASDAQ:WSFS) by 18.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,907 shares of the bank’s stock after selling 2,400 shares during the quarter. Haverford Trust Co’s holdings in WSFS Financial were worth $556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of WSFS. Victory Capital Management Inc. increased its position in shares of WSFS Financial by 30.6% during the third quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock worth $1,875,000 after acquiring an additional 8,617 shares during the period. Los Angeles Capital Management LLC increased its holdings in WSFS Financial by 73.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 13,560 shares of the bank’s stock worth $691,000 after purchasing an additional 5,750 shares during the period. Lansing Street Advisors acquired a new stake in WSFS Financial in the 3rd quarter valued at about $207,000. Stephens Inc. AR purchased a new position in shares of WSFS Financial in the 3rd quarter valued at about $209,000. Finally, abrdn plc grew its position in shares of WSFS Financial by 1.0% during the third quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after buying an additional 6,380 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on WSFS shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Piper Sandler lifted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Stephens increased their target price on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. DA Davidson lifted their price target on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $57.52 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial Co. has a 12 month low of $37.09 and a 12 month high of $60.54. The firm has a market capitalization of $3.39 billion, a P/E ratio of 13.13 and a beta of 1.02. The company’s fifty day moving average price is $51.55 and its 200 day moving average price is $49.54.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The business had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.23 EPS. As a group, sell-side analysts predict that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. WSFS Financial’s payout ratio is 13.70%.

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.