Man Group plc Acquires Shares of 16,486 WSFS Financial Corporation $WSFS

Man Group plc bought a new position in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the second quarter, Holdings Channel reports. The institutional investor bought 16,486 shares of the bank’s stock, valued at approximately $1,265,000.

Other hedge funds have also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of WSFS Financial during the fourth quarter valued at approximately $1,050,000. Denali Advisors LLC purchased a new position in shares of WSFS Financial in the fourth quarter valued at approximately $2,425,000. Assenagon Asset Management S.A. acquired a new stake in shares of WSFS Financial in the second quarter worth approximately $1,384,000. California State Teachers Retirement System increased its position in shares of WSFS Financial by 25.5% during the first quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock worth $4,352,000 after purchasing an additional 13,525 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of WSFS Financial during the second quarter worth approximately $1,265,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Activity

In related news, EVP Shari Kruzinski sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rodger Levenson sold 65,446 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. The trade was a 26.02% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

WSFS Financial Trading Up 2.5%

Shares of WSFS Financial stock opened at $78.61 on Thursday. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 13.15 and a beta of 0.76. WSFS Financial Corporation has a fifty-two week low of $49.92 and a fifty-two week high of $82.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a 50 day moving average of $79.25 and a 200 day moving average of $72.52.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The company had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.41 million. During the same quarter last year, the firm earned $1.27 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that WSFS Financial Corporation will post 6.58 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, August 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Keefe, Bruyette & Woods increased their price objective on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings raised shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a report on Wednesday, July 29th. DA Davidson set a $83.00 target price on shares of WSFS Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Stephens lowered shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target on the stock. in a research report on Wednesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, WSFS Financial has a consensus rating of “Hold” and a consensus target price of $83.07.

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.