Wellington Management Group LLP Purchases 162,406 Shares of WSFS Financial Corporation $WSFS

Wellington Management Group LLP raised its position in WSFS Financial Corporation (NASDAQ:WSFS) by 111.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 307,789 shares of the bank’s stock after purchasing an additional 162,406 shares during the period. Wellington Management Group LLP’s holdings in WSFS Financial were worth $23,617,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC acquired a new position in shares of WSFS Financial during the second quarter worth about $682,000. Equitable Holdings Inc. acquired a new stake in WSFS Financial in the 2nd quarter valued at approximately $788,000. Public Employees Retirement System of Ohio bought a new stake in WSFS Financial in the 2nd quarter valued at approximately $64,000. Corient Private Wealth LP bought a new stake in WSFS Financial in the 2nd quarter valued at approximately $261,000. Finally, Bank of America Corp DE acquired a new position in WSFS Financial during the 2nd quarter worth approximately $49,574,000. 88.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the transaction, the executive vice president directly owned 15,207 shares of the company’s stock, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WSFS. Weiss Ratings raised shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Stephens cut shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a report on Wednesday, August 12th. 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, Piper Sandler reiterated a “neutral” rating and issued a $90.00 price target (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $83.07.

WSFS Financial Stock Up 0.7%

WSFS stock opened at $79.37 on Friday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 13.27 and a beta of 0.76. WSFS Financial Corporation has a twelve month low of $49.92 and a twelve month high of $82.94. The business has a 50 day moving average price of $79.31 and a two-hundred day moving average price of $72.65. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. The company had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.41 million. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. Analysts anticipate that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

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

WSFS Financial Profile

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.