13,506 Shares in WSFS Financial Corporation $WSFS Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. acquired a new stake in WSFS Financial Corporation (NASDAQ:WSFS) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,506 shares of the bank’s stock, valued at approximately $746,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Corp purchased a new stake in WSFS Financial during the 3rd quarter valued at about $31,000. Quarry LP lifted its stake in WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of WSFS Financial by 265.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after purchasing an additional 706 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of WSFS Financial by 14.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,939 shares of the bank’s stock worth $105,000 after purchasing an additional 244 shares during the last quarter. Finally, LSV Asset Management purchased a new stake in shares of WSFS Financial in the third quarter valued at approximately $129,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Activity

In related news, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the completion of the transaction, the executive vice president directly owned 14,740 shares in the company, valued at approximately $1,033,274. This trade represents a 6.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur J. Bacci sold 2,005 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the transaction, the executive vice president directly owned 26,366 shares of the company’s stock, valued at $1,859,066.66. The trade was a 7.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 3,455 shares of company stock worth $242,923. Corporate insiders own 1.10% of the company’s stock.

WSFS Financial Price Performance

WSFS opened at $66.03 on Thursday. The stock’s 50-day moving average price is $64.86 and its 200 day moving average price is $58.49. WSFS Financial Corporation has a 12-month low of $42.44 and a 12-month high of $71.32. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 12.95 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.17. The company had revenue of $90.08 million during the quarter, compared to the consensus estimate of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.WSFS Financial’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 EPS. As a group, sell-side analysts expect that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.17 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s payout ratio is 13.33%.

Analysts Set New Price Targets

WSFS has been the topic of several recent research reports. Piper Sandler boosted their price target on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 28th. Stephens restated an “overweight” rating and issued a $71.00 target price (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods increased their price target on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.58.

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.