Norges Bank Makes New Investment in WSFS Financial Corporation $WSFS

Norges Bank bought a new position in WSFS Financial Corporation (NASDAQ:WSFS) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 709,500 shares of the bank’s stock, valued at approximately $39,193,000. Norges Bank owned 1.30% of WSFS Financial as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WSFS. Torren Management LLC acquired a new stake in shares of WSFS Financial in the fourth quarter worth $35,000. Clearstead Advisors LLC boosted its position in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after buying an additional 489 shares during the period. Quarry LP boosted its position in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after buying an additional 500 shares during the period. First Horizon Corp boosted its position in shares of WSFS Financial by 40.1% in the fourth quarter. First Horizon Corp now owns 817 shares of the bank’s stock worth $45,000 after buying an additional 234 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after buying an additional 706 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Price Performance

WSFS opened at $72.15 on Tuesday. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 12.84 and a beta of 0.76. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $73.22. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock has a fifty day moving average price of $70.04 and a 200 day moving average price of $63.96.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s payout ratio is 14.23%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. UBS Group set a $76.00 price target on shares of WSFS Financial in a report on Monday, April 27th. Brean Capital assumed coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target for the company. DA Davidson raised their price target on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, TD Cowen restated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, WSFS Financial currently has a consensus rating of “Moderate Buy” and an average target price of $77.07.

WSFS Financial Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.