WSFS Financial Corporation $WSFS Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 4.0% in the second quarter, Holdings Channel reports. The firm owned 33,787 shares of the bank’s stock after buying an additional 1,285 shares during the period. State of Alaska Department of Revenue’s holdings in WSFS Financial were worth $1,857,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Xponance Inc. increased its position in shares of WSFS Financial by 4.9% during the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank’s stock worth $230,000 after purchasing an additional 209 shares during the last quarter. GAMMA Investing LLC increased its position in shares of WSFS Financial by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank’s stock worth $106,000 after purchasing an additional 550 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of WSFS Financial by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank’s stock worth $16,820,000 after purchasing an additional 7,012 shares during the last quarter. KBC Group NV increased its position in shares of WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank’s stock worth $160,000 after purchasing an additional 196 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of WSFS Financial during the 1st quarter worth about $661,000. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $53.66 on Friday. WSFS Financial Corporation has a one year low of $42.44 and a one year high of $62.75. The company has a market cap of $3.00 billion, a PE ratio of 11.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.83 and a current ratio of 0.84. The business has a 50-day simple moving average of $55.83 and a 200-day simple moving average of $54.00.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The firm had revenue of $267.50 million during the quarter, compared to analysts’ expectations of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, equities research analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a $0.17 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.3%. WSFS Financial’s payout ratio is currently 14.91%.

Analysts Set New Price Targets

Several research firms have weighed in on WSFS. TD Cowen began coverage on WSFS Financial in a research report on Thursday, September 25th. They issued a “buy” rating and a $67.00 target price for the company. DA Davidson lifted their target price on WSFS Financial from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, July 28th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.25.

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.