Cibc World Markets Corp Takes $294,000 Position in WSFS Financial Co. (NASDAQ:WSFS)

Cibc World Markets Corp bought a new position in shares of WSFS Financial Co. (NASDAQ:WSFS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,533 shares of the bank’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently added to or reduced their stakes in WSFS. State Street Corp lifted its holdings in shares of WSFS Financial by 3.0% during the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock worth $154,519,000 after acquiring an additional 87,781 shares during the period. Cooke & Bieler LP boosted its holdings in shares of WSFS Financial by 1.5% in the 4th quarter. Cooke & Bieler LP now owns 782,767 shares of the bank’s stock valued at $41,588,000 after purchasing an additional 11,414 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of WSFS Financial by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 740,584 shares of the bank’s stock valued at $39,347,000 after purchasing an additional 19,650 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of WSFS Financial during the 4th quarter valued at $18,167,000. Finally, Principal Financial Group Inc. increased its holdings in shares of WSFS Financial by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank’s stock worth $16,856,000 after buying an additional 10,915 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WSFS. Stephens reissued an “overweight” rating and set a $68.00 price target on shares of WSFS Financial in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their target price on WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Trading Up 2.4 %

NASDAQ:WSFS opened at $53.32 on Tuesday. WSFS Financial Co. has a 12 month low of $41.33 and a 12 month high of $62.75. The business’s 50-day moving average is $54.26 and its two-hundred day moving average is $53.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a market capitalization of $3.12 billion, a PE ratio of 12.06 and a beta of 1.06.

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

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $0.15 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. WSFS Financial’s payout ratio is currently 13.57%.

Insider Buying and Selling at WSFS Financial

In related news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the transaction, the chief executive officer now owns 142,780 shares of the company’s stock, valued at approximately $7,881,456. This represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.29% of the stock is currently owned by corporate insiders.

WSFS Financial Profile

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.