State of New Jersey Common Pension Fund D Has $2.03 Million Stake in WSFS Financial Co. (NASDAQ:WSFS)

State of New Jersey Common Pension Fund D reduced its position in shares of WSFS Financial Co. (NASDAQ:WSFS) by 7.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,706 shares of the bank’s stock after selling 3,372 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in WSFS Financial were worth $2,025,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WSFS. Jupiter Asset Management Ltd. acquired a new stake in WSFS Financial in the 1st quarter valued at about $1,253,000. Wedge Capital Management L L P NC lifted its position in shares of WSFS Financial by 29.2% in the second quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock valued at $3,871,000 after buying an additional 18,636 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after acquiring an additional 372,402 shares during the period. Squarepoint Ops LLC increased its holdings in shares of WSFS Financial by 265.1% during the 2nd quarter. Squarepoint Ops LLC now owns 23,763 shares of the bank’s stock worth $1,117,000 after acquiring an additional 17,254 shares during the last quarter. Finally, Sei Investments Co. raised its stake in WSFS Financial by 34.1% in the 2nd quarter. Sei Investments Co. now owns 48,343 shares of the bank’s stock valued at $2,272,000 after acquiring an additional 12,298 shares during the period. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the subject of a number of research analyst reports. Piper Sandler lifted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Stephens lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. DA Davidson increased their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $59.75.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $57.47 on Friday. WSFS Financial Co. has a 12-month low of $37.09 and a 12-month high of $60.54. The firm has a 50-day moving average price of $51.68 and a two-hundred day moving average price of $49.69. The company has a market capitalization of $3.38 billion, a P/E ratio of 13.12 and a beta of 1.02. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million during the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.23 EPS. Analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. WSFS Financial’s payout ratio is 13.70%.

About WSFS Financial

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.