American Century Companies Inc. Raises Holdings in WSFS Financial Co. (NASDAQ:WSFS)

American Century Companies Inc. grew its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 27.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 877,467 shares of the bank’s stock after acquiring an additional 191,566 shares during the period. American Century Companies Inc.’s holdings in WSFS Financial were worth $41,241,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Great Lakes Advisors LLC lifted its position in WSFS Financial by 7.0% during the second quarter. Great Lakes Advisors LLC now owns 60,595 shares of the bank’s stock valued at $2,848,000 after buying an additional 3,942 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of WSFS Financial by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 28,156 shares of the bank’s stock valued at $1,323,000 after acquiring an additional 1,056 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in WSFS Financial during the 2nd quarter worth $2,664,000. Innealta Capital LLC acquired a new position in WSFS Financial during the 2nd quarter worth approximately $114,000. Finally, Louisiana State Employees Retirement System boosted its holdings in WSFS Financial by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock valued at $1,419,000 after purchasing an additional 200 shares during the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $53.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. DA Davidson upped their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Piper Sandler lifted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Stephens lifted their target price on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.50.

Insider Activity at WSFS Financial

In other news, EVP Stephen P. Clark sold 12,663 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total transaction of $715,712.76. Following the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at approximately $1,450,924.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.29% of the stock is owned by insiders.

WSFS Financial Price Performance

NASDAQ WSFS opened at $52.24 on Tuesday. WSFS Financial Co. has a 1 year low of $33.12 and a 1 year high of $58.59. The business’s fifty day moving average is $52.38 and its two-hundred day moving average is $47.04. The stock has a market capitalization of $3.14 billion, a P/E ratio of 11.66 and a beta of 1.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.86 and a current ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company had revenue of $266.00 million for the quarter, compared to analyst estimates of $254.48 million. During the same period in the previous year, the firm earned $1.16 earnings per share. WSFS Financial’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts forecast that WSFS Financial Co. will post 4.33 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. WSFS Financial’s dividend payout ratio is currently 13.39%.

WSFS Financial 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.