Handelsbanken Fonder AB Has $627,000 Holdings in WSFS Financial Co. (NASDAQ:WSFS)

Handelsbanken Fonder AB lifted its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 9.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,305 shares of the bank’s stock after purchasing an additional 1,100 shares during the period. Handelsbanken Fonder AB’s holdings in WSFS Financial were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in WSFS Financial in the first quarter valued at about $45,000. GAMMA Investing LLC increased its stake in shares of WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after buying an additional 295 shares during the period. Innealta Capital LLC bought a new position in WSFS Financial in the 2nd quarter valued at approximately $114,000. SG Americas Securities LLC acquired a new stake in WSFS Financial during the 3rd quarter worth approximately $127,000. Finally, Ascent Group LLC bought a new stake in WSFS Financial during the 2nd quarter worth approximately $201,000. Institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

In other news, EVP Stephen P. Clark sold 12,663 shares of the company’s stock in a transaction dated 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 owns 25,671 shares in the company, valued at approximately $1,450,924.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.29% of the stock is owned by insiders.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $50.72 on Monday. The company has a market cap of $3.01 billion, a P/E ratio of 11.22 and a beta of 1.01. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $51.23 and a two-hundred day moving average price of $48.09. WSFS Financial Co. has a 1-year low of $33.12 and a 1-year high of $58.59.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. The business had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, analysts anticipate that WSFS Financial Co. will post 4.31 EPS for the current year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given 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 1.18%. WSFS Financial’s payout ratio is presently 13.27%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Stephens lifted their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Piper Sandler increased their price target on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research note on Monday, July 29th.

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.