WSFS Financial Corporation $WSFS Shares Acquired by UBS Group AG

UBS Group AG boosted its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 31.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,753 shares of the bank’s stock after purchasing an additional 51,234 shares during the quarter. UBS Group AG owned approximately 0.39% of WSFS Financial worth $11,863,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WSFS. JPMorgan Chase & Co. raised its stake in WSFS Financial by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock valued at $83,295,000 after acquiring an additional 33,398 shares in the last quarter. Cooke & Bieler LP raised its stake in WSFS Financial by 15.5% during the 3rd quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank’s stock valued at $55,653,000 after acquiring an additional 138,220 shares in the last quarter. Invesco Ltd. raised its stake in WSFS Financial by 2.1% during the 3rd quarter. Invesco Ltd. now owns 1,005,660 shares of the bank’s stock valued at $54,235,000 after acquiring an additional 20,293 shares in the last quarter. Pzena Investment Management LLC raised its stake in WSFS Financial by 14.5% during the 3rd quarter. Pzena Investment Management LLC now owns 928,413 shares of the bank’s stock valued at $50,069,000 after acquiring an additional 117,244 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in WSFS Financial by 0.4% during the 3rd quarter. Raymond James Financial Inc. now owns 443,465 shares of the bank’s stock valued at $23,916,000 after acquiring an additional 1,794 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Stock Down 0.9%

WSFS opened at $69.89 on Friday. WSFS Financial Corporation has a one year low of $49.92 and a one year high of $73.22. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The stock’s fifty day moving average is $67.49 and its 200-day moving average is $61.89. The company has a market capitalization of $3.64 billion, a PE ratio of 12.44 and a beta of 0.77.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio (DPR) is presently 14.23%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WSFS shares. DA Davidson lifted their target price on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. TD Cowen reaffirmed a “buy” rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.07.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.