Headlands Technologies LLC Takes $928,000 Position in WSFS Financial Corporation $WSFS

Headlands Technologies LLC acquired a new position in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,096 shares of the bank’s stock, valued at approximately $928,000.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in WSFS Financial in the second quarter valued at approximately $576,695,000. Pzena Investment Management LLC acquired a new position in WSFS Financial during the 2nd quarter worth approximately $68,174,000. Norges Bank acquired a new position in WSFS Financial during the 4th quarter worth approximately $39,193,000. Bank of America Corp DE purchased a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $49,574,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new stake in shares of WSFS Financial in the 1st quarter valued at approximately $34,313,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Stock Down 1.0%

Shares of NASDAQ:WSFS opened at $76.69 on Wednesday. The firm has a 50 day simple moving average of $79.21 and a 200-day simple moving average of $72.43. WSFS Financial Corporation has a twelve month low of $49.92 and a twelve month high of $82.94. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.92 billion, a PE ratio of 12.82 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.41 million. During the same period last year, the firm posted $1.27 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, August 7th. WSFS Financial’s dividend payout ratio is currently 13.38%.

Insider Activity

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the transaction, the chief executive officer owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president owned 15,207 shares in the company, valued at $1,243,020.18. This trade represents a 18.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WSFS shares. Keefe, Bruyette & Woods raised their price objective on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a report on Wednesday, August 12th. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Finally, DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.07.

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.