State of New Jersey Common Pension Fund D Sells 3,372 Shares of WSFS Financial Co. (NASDAQ:WSFS)

State of New Jersey Common Pension Fund D trimmed its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 7.8% during the third quarter, according to its most recent disclosure 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 period. State of New Jersey Common Pension Fund D owned approximately 0.07% of WSFS Financial worth $2,025,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WSFS. Vanguard Group Inc. raised its holdings in 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 purchasing an additional 372,402 shares during the last quarter. American Century Companies Inc. raised its stake in shares of WSFS Financial by 27.9% during the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after buying an additional 191,566 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in WSFS Financial by 14.1% in the first quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock valued at $58,379,000 after buying an additional 160,090 shares during the period. Dimensional Fund Advisors LP boosted its stake in WSFS Financial by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after acquiring an additional 110,279 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in WSFS Financial during the 2nd quarter worth $3,436,000. 88.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on WSFS shares. Stephens increased their price target on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a research note on Monday, July 29th. DA Davidson boosted their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Piper Sandler boosted their price objective on shares of WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.75.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $57.47 on Friday. The company has a fifty day moving average price of $51.68 and a 200 day moving average price of $49.69. The firm has a market cap of $3.38 billion, a PE ratio of 13.12 and a beta of 1.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. WSFS Financial Co. has a 1-year low of $37.09 and a 1-year high of $60.54.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $267.61 million during the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. WSFS Financial’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $1.23 earnings per share. Research analysts predict that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 8th. 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.