Forum Financial Management LP Cuts Stake in WSFS Financial Co. (NASDAQ:WSFS)

Forum Financial Management LP lessened its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,659 shares of the bank’s stock after selling 387 shares during the quarter. Forum Financial Management LP’s holdings in WSFS Financial were worth $301,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WSFS. Principal Financial Group Inc. lifted its holdings in shares of WSFS Financial by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank’s stock worth $16,856,000 after buying an additional 10,915 shares in the last quarter. Sei Investments Co. boosted its stake in WSFS Financial by 58.4% during the fourth quarter. Sei Investments Co. now owns 56,359 shares of the bank’s stock valued at $2,994,000 after buying an additional 20,784 shares during the last quarter. Raymond James Financial Inc. bought a new stake in WSFS Financial in the 4th quarter worth approximately $18,167,000. AlphaQuest LLC purchased a new stake in shares of WSFS Financial during the 4th quarter worth approximately $84,000. Finally, Norges Bank purchased a new position in shares of WSFS Financial in the fourth quarter valued at $32,775,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was 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 in the company, 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 filing with the SEC, which is accessible through this link. 1.29% of the stock is owned by company insiders.

WSFS Financial Stock Down 0.6 %

Shares of NASDAQ:WSFS opened at $47.67 on Tuesday. WSFS Financial Co. has a 1 year low of $42.21 and a 1 year high of $62.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a market capitalization of $2.76 billion, a PE ratio of 10.79 and a beta of 0.90. The business has a 50 day simple moving average of $51.34 and a two-hundred day simple moving average of $53.57.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. On average, equities analysts predict that WSFS Financial Co. will post 4.47 EPS for the current year.

Analyst Ratings Changes

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

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.