Truist Financial Corp decreased its stake in shares of WSFS Financial Co. (NASDAQ:WSFS – Get Rating) by 27.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,638 shares of the bank’s stock after selling 5,042 shares during the quarter. Truist Financial Corp’s holdings in WSFS Financial were worth $633,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in WSFS. Bank of New York Mellon Corp increased its holdings in shares of WSFS Financial by 20.8% during the 1st quarter. Bank of New York Mellon Corp now owns 772,965 shares of the bank’s stock worth $36,036,000 after purchasing an additional 133,079 shares during the period. Citigroup Inc. increased its stake in WSFS Financial by 51.4% in the first quarter. Citigroup Inc. now owns 57,139 shares of the bank’s stock valued at $2,664,000 after acquiring an additional 19,407 shares during the period. Bank of Montreal Can increased its stake in WSFS Financial by 15.5% in the first quarter. Bank of Montreal Can now owns 20,076 shares of the bank’s stock valued at $1,003,000 after acquiring an additional 2,699 shares during the period. MetLife Investment Management LLC increased its stake in WSFS Financial by 116.7% in the first quarter. MetLife Investment Management LLC now owns 34,828 shares of the bank’s stock valued at $1,624,000 after acquiring an additional 18,755 shares during the period. Finally, Rhumbline Advisers increased its stake in WSFS Financial by 18.3% in the first quarter. Rhumbline Advisers now owns 181,383 shares of the bank’s stock valued at $8,456,000 after acquiring an additional 28,035 shares during the period. Institutional investors own 88.10% of the company’s stock.
Insider Transactions at WSFS Financial
In other news, EVP Patrick Joseph Ward sold 1,305 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total transaction of $60,525.90. Following the transaction, the executive vice president now directly owns 140,881 shares in the company, valued at $6,534,060.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Patrick Joseph Ward sold 1,305 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.38, for a total transaction of $60,525.90. Following the transaction, the executive vice president now directly owns 140,881 shares in the company, valued at $6,534,060.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rodger Levenson sold 7,945 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $48.24, for a total transaction of $383,266.80. Following the transaction, the chief executive officer now owns 130,369 shares in the company, valued at $6,289,000.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,638 shares of company stock worth $927,562. Corporate insiders own 1.98% of the company’s stock.
Analyst Upgrades and Downgrades
WSFS has been the topic of a number of analyst reports. Janney Montgomery Scott initiated coverage on shares of WSFS Financial in a research note on Wednesday, November 30th. They issued a “buy” rating and a $57.00 target price on the stock. StockNews.com initiated coverage on shares of WSFS Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $54.75.
WSFS Financial Price Performance
Shares of WSFS Financial stock opened at $48.16 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 14.42 and a beta of 1.02. WSFS Financial Co. has a 1-year low of $37.03 and a 1-year high of $54.30. The firm’s 50-day moving average price is $46.71 and its two-hundred day moving average price is $47.00.
WSFS Financial (NASDAQ:WSFS – Get Rating) last issued its quarterly earnings data on Monday, October 24th. The bank reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.03). WSFS Financial had a return on equity of 10.64% and a net margin of 22.99%. The firm had revenue of $176.80 million for the quarter, compared to the consensus estimate of $175.59 million. During the same period in the prior year, the company posted $1.19 earnings per share. WSFS Financial’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities analysts predict that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.
WSFS Financial 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.
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