Raymond James Financial Inc. Purchases New Position in WSFS Financial Co. (NASDAQ:WSFS)

Raymond James Financial Inc. bought a new position in WSFS Financial Co. (NASDAQ:WSFS) during the 4th quarter, Holdings Channel reports. The institutional investor bought 341,943 shares of the bank’s stock, valued at approximately $18,167,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. increased its holdings in WSFS Financial by 30.6% in the 3rd quarter. Victory Capital Management Inc. now owns 36,773 shares of the bank’s stock valued at $1,875,000 after acquiring an additional 8,617 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in WSFS Financial in the 3rd quarter valued at about $202,000. Royce & Associates LP boosted its position in WSFS Financial by 247.4% in the 3rd quarter. Royce & Associates LP now owns 78,168 shares of the bank’s stock valued at $3,986,000 after buying an additional 55,668 shares during the period. LMR Partners LLP purchased a new stake in shares of WSFS Financial in the 3rd quarter worth approximately $237,000. Finally, Pathstone Holdings LLC lifted its position in shares of WSFS Financial by 6.1% in the 3rd quarter. Pathstone Holdings LLC now owns 32,648 shares of the bank’s stock worth $1,665,000 after purchasing an additional 1,884 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Transactions at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now owns 142,780 shares of the company’s stock, valued at approximately $7,881,456. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WSFS. Stephens restated an “overweight” rating and set a $68.00 price target on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods increased their price objective on shares of WSFS Financial from $64.00 to $68.00 and gave the company a “market perform” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.75.

WSFS Financial Stock Up 0.1 %

WSFS opened at $52.06 on Tuesday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 11.78 and a beta of 1.06. WSFS Financial Co. has a one year low of $41.33 and a one year high of $62.75. The business’s 50-day simple moving average is $54.21 and its 200-day simple moving average is $53.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 0.83.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, January 27th. The bank reported $1.11 EPS for the quarter, topping the consensus estimate of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. Analysts anticipate that WSFS Financial Co. will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a dividend of $0.15 per share. The ex-dividend date was Friday, February 7th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.15%. WSFS Financial’s payout ratio is 13.57%.

WSFS Financial Company 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.