Bank of Montreal Can Increases Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Bank of Montreal Can lifted its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 11.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,959 shares of the bank’s stock after acquiring an additional 720 shares during the period. Bank of Montreal Can’s holdings in WSFS Financial were worth $370,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in WSFS Financial by 0.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 178,962 shares of the bank’s stock worth $9,508,000 after buying an additional 648 shares during the period. Wells Fargo & Company MN boosted its position in WSFS Financial by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 229,796 shares of the bank’s stock worth $12,209,000 after purchasing an additional 2,947 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of WSFS Financial during the fourth quarter valued at approximately $149,000. Norges Bank purchased a new position in WSFS Financial in the fourth quarter valued at about $32,775,000. Finally, JPMorgan Chase & Co. grew its holdings in WSFS Financial by 309.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,687,824 shares of the bank’s stock worth $89,674,000 after acquiring an additional 1,276,078 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 7,199 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.20, for a total transaction of $397,384.80. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on WSFS shares. Stephens restated an “overweight” rating and issued a $68.00 target price on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WSFS Financial presently has an average rating of “Hold” and a consensus target price of $64.75.

WSFS Financial Price Performance

NASDAQ WSFS opened at $49.72 on Wednesday. WSFS Financial Co. has a fifty-two week low of $42.21 and a fifty-two week high of $62.75. The stock’s 50-day moving average is $51.21 and its two-hundred day moving average is $53.55. 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 cap of $2.88 billion, a P/E ratio of 11.25 and a beta of 0.90.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 27th. The bank reported $1.11 EPS for the quarter, beating 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%. On average, analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Company 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.