WSFS Financial Co. (NASDAQ:WSFS) Stake Raised by Federated Investors Inc. PA
Federated Investors Inc. PA increased its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 146.9% during the first quarter, HoldingsChannel.com reports. The fund owned 183,954 shares of the bank’s stock after acquiring an additional 109,456 shares during the quarter. Federated Investors Inc. PA’s holdings in WSFS Financial were worth $7,101,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Swiss National Bank grew its position in WSFS Financial by 68.8% in the first quarter. Swiss National Bank now owns 94,840 shares of the bank’s stock worth $3,661,000 after acquiring an additional 38,640 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in WSFS Financial by 1,725.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,833 shares of the bank’s stock worth $341,000 after acquiring an additional 8,349 shares in the last quarter. Dimensional Fund Advisors LP grew its position in WSFS Financial by 122.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,030,908 shares of the bank’s stock worth $116,994,000 after acquiring an additional 1,669,776 shares in the last quarter. Wells Fargo & Company MN grew its position in WSFS Financial by 165.5% in the first quarter. Wells Fargo & Company MN now owns 164,824 shares of the bank’s stock worth $6,362,000 after acquiring an additional 102,748 shares in the last quarter. Finally, Roundview Capital LLC bought a new stake in WSFS Financial in the first quarter worth approximately $234,000. Institutional investors and hedge funds own 78.33% of the company’s stock.
WSFS stock opened at $41.24 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 0.98 and a beta of 1.17. WSFS Financial Co. has a 12 month low of $33.75 and a 12 month high of $57.70.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Investors of record on Thursday, May 9th were issued a dividend of $0.12 per share. This is an increase from WSFS Financial’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, May 8th. WSFS Financial’s dividend payout ratio is currently 13.52%.
WSFS has been the subject of several recent research reports. Boenning Scattergood reissued a “buy” rating and issued a $47.75 target price on shares of WSFS Financial in a research report on Friday, April 26th. Stephens set a $51.00 target price on shares of WSFS Financial and gave the stock a “buy” rating in a research report on Thursday, February 28th. Zacks Investment Research raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, BidaskClub raised shares of WSFS Financial from a “sell” rating to a “hold” rating in a research report on Saturday, February 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $55.94.
In related news, Director Mark A. Turner sold 75,475 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $43.03, for a total transaction of $3,247,689.25. Following the completion of the sale, the director now directly owns 215,808 shares of the company’s stock, valued at approximately $9,286,218.24. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Turner sold 96,154 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $42.79, for a total transaction of $4,114,429.66. Following the sale, the director now directly owns 167,368 shares of the company’s stock, valued at $7,161,676.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 251,646 shares of company stock valued at $10,792,140. 2.42% of the stock is owned by insiders.
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WSFS Financial Company 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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