abrdn plc Sells 109,516 Shares of WSFS Financial Co. (NASDAQ:WSFS)

abrdn plc cut its position in WSFS Financial Co. (NASDAQ:WSFS) by 17.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 511,292 shares of the bank’s stock after selling 109,516 shares during the quarter. abrdn plc owned about 0.87% of WSFS Financial worth $27,165,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. KBC Group NV lifted its position in shares of WSFS Financial by 68.4% during the 4th quarter. KBC Group NV now owns 2,885 shares of the bank’s stock valued at $153,000 after acquiring an additional 1,172 shares during the period. Crossmark Global Holdings Inc. bought a new position in WSFS Financial in the fourth quarter valued at about $207,000. Assenagon Asset Management S.A. raised its position in shares of WSFS Financial by 819.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock worth $13,528,000 after acquiring an additional 226,933 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of WSFS Financial by 18.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 57,558 shares of the bank’s stock worth $2,935,000 after acquiring an additional 8,763 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its position in shares of WSFS Financial by 100.8% during the third quarter. Sanctuary Advisors LLC now owns 12,879 shares of the bank’s stock worth $657,000 after acquiring an additional 6,466 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday. Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $68.00 target price on shares of WSFS Financial in a research report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Stock Performance

Shares of WSFS opened at $58.54 on Thursday. 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 Co. has a 1 year low of $40.19 and a 1 year high of $62.75. The firm has a market cap of $3.45 billion, a PE ratio of 13.24 and a beta of 1.08. The stock’s fifty day moving average price is $55.30 and its two-hundred day moving average price is $53.70.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. On average, equities research analysts forecast that WSFS Financial Co. will post 4.4 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, February 7th. WSFS Financial’s payout ratio is currently 13.57%.

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.