FourThought Financial LLC Increases Holdings in WSFS Financial Co. (NASDAQ:WSFS)

FourThought Financial LLC lifted its position in WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 17.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,986 shares of the bank’s stock after purchasing an additional 444 shares during the period. FourThought Financial LLC’s holdings in WSFS Financial were worth $139,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in WSFS Financial by 20.8% during the first quarter. Bank of New York Mellon Corp now owns 772,965 shares of the bank’s stock worth $36,036,000 after buying an additional 133,079 shares during the period. Citigroup Inc. lifted its holdings in WSFS Financial by 51.4% during the first quarter. Citigroup Inc. now owns 57,139 shares of the bank’s stock worth $2,664,000 after buying an additional 19,407 shares during the period. Bank of Montreal Can lifted its holdings in WSFS Financial by 15.5% during the first quarter. Bank of Montreal Can now owns 20,076 shares of the bank’s stock worth $1,003,000 after buying an additional 2,699 shares during the period. MetLife Investment Management LLC lifted its holdings in WSFS Financial by 116.7% during the first quarter. MetLife Investment Management LLC now owns 34,828 shares of the bank’s stock worth $1,624,000 after buying an additional 18,755 shares during the period. Finally, Rhumbline Advisers lifted its holdings in WSFS Financial by 18.3% during the first quarter. Rhumbline Advisers now owns 181,383 shares of the bank’s stock worth $8,456,000 after buying an additional 28,035 shares during the period. Hedge funds and other institutional investors own 88.10% of the company’s stock.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $38.63 on Friday. The business’s fifty day simple moving average is $47.70 and its 200-day simple moving average is $47.45. The company has a market cap of $2.37 billion, a PE ratio of 10.94 and a beta of 1.00. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.33. WSFS Financial Co. has a 12-month low of $37.03 and a 12-month high of $51.77.

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

WSFS Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. StockNews.com assumed coverage on WSFS Financial in a report on Thursday. They set a “hold” rating for the company. Janney Montgomery Scott assumed coverage on WSFS Financial in a report on Wednesday, November 30th. They set a “buy” rating and a $57.00 target price for the company. Finally, Piper Sandler lowered WSFS Financial from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $53.00 to $52.00 in a report on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, WSFS Financial has an average rating of “Hold” and a consensus target price of $53.25.

WSFS Financial Profile

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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.