Pzena Investment Management LLC Sells 23,911 Shares of WSFS Financial Corporation $WSFS

Pzena Investment Management LLC lowered its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 2.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 864,585 shares of the bank’s stock after selling 23,911 shares during the quarter. Pzena Investment Management LLC’s holdings in WSFS Financial were worth $65,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC lifted its stake in shares of WSFS Financial by 9.9% in the third quarter. Blue Bell Private Wealth Management LLC now owns 3,319 shares of the bank’s stock worth $251,000 after buying an additional 300 shares during the last quarter. Vise Technologies Inc. lifted its position in WSFS Financial by 73.4% during the 3rd quarter. Vise Technologies Inc. now owns 10,836 shares of the bank’s stock worth $819,000 after acquiring an additional 4,587 shares during the last quarter. Verdence Capital Advisors LLC boosted its holdings in WSFS Financial by 173.1% during the third quarter. Verdence Capital Advisors LLC now owns 38,239 shares of the bank’s stock valued at $2,890,000 after acquiring an additional 24,239 shares during the period. Root Financial Partners LLC bought a new stake in WSFS Financial during the third quarter valued at about $36,000. Finally, Reyes Financial Architecture Inc. acquired a new stake in shares of WSFS Financial in the third quarter valued at about $62,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

Insider Buying and Selling

In other WSFS Financial news, Director Michael Donahue sold 3,247 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the transaction, the director owned 11,495 shares of the company’s stock, valued at $913,392.70. This represents a 22.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WSFS has been the topic of a number of recent analyst reports. DA Davidson set a $83.00 price objective on WSFS Financial and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods increased their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a report on Wednesday, August 12th. Weiss Ratings raised WSFS Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, October 26th. Finally, TD Cowen reissued a “buy” rating and issued a $90.00 price objective (up from $89.00) on shares of WSFS Financial in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.21.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $81.08 on Thursday. The company’s fifty day moving average is $77.86 and its two-hundred day moving average is $72.92. WSFS Financial Corporation has a 52-week low of $51.40 and a 52-week high of $82.94. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 12.70 and a beta of 0.85.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.13. WSFS Financial had a net margin of 24.10% and a return on equity of 12.27%. The business had revenue of $287.57 million during the quarter, compared to analyst estimates of $289.82 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts forecast that WSFS Financial Corporation will post 6.62 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, November 6th. WSFS Financial’s payout ratio is currently 12.58%.

WSFS Financial Profile

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.