Bank of New York Mellon Corp Buys 13,437 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Bank of New York Mellon Corp boosted its position in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 747,659 shares of the bank’s stock after acquiring an additional 13,437 shares during the period. Bank of New York Mellon Corp’s holdings in WSFS Financial were worth $34,736,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of WSFS Financial by 34.8% during the 1st quarter. BlackRock Inc. now owns 9,464,621 shares of the bank’s stock worth $441,240,000 after acquiring an additional 2,442,621 shares during the period. Vanguard Group Inc. lifted its stake in WSFS Financial by 16.2% during the first quarter. Vanguard Group Inc. now owns 7,112,476 shares of the bank’s stock worth $331,584,000 after purchasing an additional 992,425 shares during the period. Dimensional Fund Advisors LP boosted its holdings in WSFS Financial by 4.6% during the third quarter. Dimensional Fund Advisors LP now owns 3,688,665 shares of the bank’s stock valued at $171,376,000 after purchasing an additional 163,217 shares in the last quarter. State Street Corp grew its stake in shares of WSFS Financial by 29.1% in the 1st quarter. State Street Corp now owns 2,878,509 shares of the bank’s stock valued at $134,196,000 after purchasing an additional 648,867 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of WSFS Financial by 6.9% in the 2nd quarter. Macquarie Group Ltd. now owns 2,463,018 shares of the bank’s stock worth $98,758,000 after buying an additional 158,452 shares in the last quarter. Institutional investors and hedge funds own 88.10% of the company’s stock.

Analysts Set New Price Targets

WSFS has been the topic of several recent analyst reports. Piper Sandler lowered WSFS Financial from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $53.00 to $52.00 in a research note on Wednesday, February 1st. Janney Montgomery Scott initiated coverage on shares of WSFS Financial in a report on Wednesday, November 30th. They issued a “buy” rating and a $57.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, WSFS Financial presently has a consensus rating of “Hold” and an average target price of $53.25.

Insider Activity

In related news, EVP Patrick Joseph Ward sold 1,305 shares of the business’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total value of $60,525.90. Following the completion of the transaction, the executive vice president now owns 140,881 shares in the company, valued at approximately $6,534,060.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.73% of the stock is owned by insiders.

WSFS Financial Trading Down 10.0 %

WSFS stock opened at $38.69 on Tuesday. The business has a fifty day moving average price of $48.13 and a 200 day moving average price of $47.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.78 and a quick ratio of 0.78. WSFS Financial Co. has a fifty-two week low of $37.03 and a fifty-two week high of $52.11. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 10.96 and a beta of 1.00.

WSFS Financial (NASDAQ:WSFS – Get Rating) last announced its earnings results on Friday, January 27th. The bank reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.01. The company had revenue of $193.90 million during the quarter, compared to analyst estimates of $203.06 million. WSFS Financial had a return on equity of 11.89% and a net margin of 23.07%. The firm’s quarterly revenue was up 79.2% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. Analysts expect that WSFS Financial Co. will post 5.12 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 24th. Stockholders of record on Friday, February 10th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, February 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. WSFS Financial’s payout ratio is 17.00%.

About WSFS Financial

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WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.