Geode Capital Management LLC Lowers Holdings in WSFS Financial Corporation $WSFS

Geode Capital Management LLC decreased its position in WSFS Financial Corporation (NASDAQ:WSFS) by 1.2% in the fourth quarter, Holdings Channel reports. The firm owned 1,362,336 shares of the bank’s stock after selling 17,129 shares during the period. Geode Capital Management LLC’s holdings in WSFS Financial were worth $75,266,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Cooke & Bieler LP boosted its holdings in shares of WSFS Financial by 2.3% in the fourth quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock valued at $58,328,000 after purchasing an additional 23,946 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after purchasing an additional 489 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of WSFS Financial in the fourth quarter valued at approximately $74,000. EverSource Wealth Advisors LLC boosted its holdings in shares of WSFS Financial by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock valued at $63,000 after purchasing an additional 221 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of WSFS Financial by 165.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,869 shares of the bank’s stock valued at $103,000 after purchasing an additional 1,166 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Trading Up 0.5%

WSFS Financial stock opened at $72.15 on Tuesday. The stock has a 50-day moving average of $70.04 and a two-hundred day moving average of $63.96. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. WSFS Financial Corporation has a one year low of $49.92 and a one year high of $73.22. The stock has a market cap of $3.75 billion, a PE ratio of 12.84 and a beta of 0.76.

WSFS Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial’s dividend payout ratio (DPR) is 14.23%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WSFS. Brean Capital began coverage on WSFS Financial in a report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target for the company. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. TD Cowen reissued a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Stephens reissued an “overweight” rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $77.07.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.