State of Alaska Department of Revenue Decreases Stake in WSFS Financial Co. (NASDAQ:WSFS)

State of Alaska Department of Revenue cut its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,480 shares of the bank’s stock after selling 343 shares during the period. State of Alaska Department of Revenue’s holdings in WSFS Financial were worth $1,778,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of WSFS. KBC Group NV boosted its holdings in WSFS Financial by 68.4% in the fourth quarter. KBC Group NV now owns 2,885 shares of the bank’s stock valued at $153,000 after purchasing an additional 1,172 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of WSFS Financial in the 4th quarter valued at approximately $207,000. Assenagon Asset Management S.A. boosted its stake in shares of WSFS Financial by 819.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock valued at $13,528,000 after buying an additional 226,933 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of WSFS Financial by 18.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 57,558 shares of the bank’s stock worth $2,935,000 after buying an additional 8,763 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its stake in shares of WSFS Financial by 100.8% in the third quarter. Sanctuary Advisors LLC now owns 12,879 shares of the bank’s stock worth $657,000 after buying an additional 6,466 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stephens reiterated an “overweight” rating and set a $68.00 price objective on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods upped their target price on shares of WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.75.

WSFS Financial Stock Up 2.9 %

WSFS stock opened at $58.45 on Wednesday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 13.22 and a beta of 1.08. WSFS Financial Co. has a 1-year low of $40.19 and a 1-year high of $62.75. The firm has a fifty day moving average price of $55.15 and a two-hundred day moving average price of $53.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. Research analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, February 7th. WSFS Financial’s payout ratio is 13.57%.

About WSFS Financial

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. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.