Amalgamated Bank Reduces Position in WSFS Financial Co. (NASDAQ:WSFS)

Amalgamated Bank trimmed its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,417 shares of the bank’s stock after selling 931 shares during the quarter. Amalgamated Bank’s holdings in WSFS Financial were worth $888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC increased its holdings in WSFS Financial by 5,000.0% in the third quarter. International Assets Investment Management LLC now owns 918 shares of the bank’s stock valued at $47,000 after buying an additional 900 shares during the last quarter. GAMMA Investing LLC increased its holdings in WSFS Financial by 40.5% in the second quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after buying an additional 295 shares during the last quarter. Innealta Capital LLC bought a new stake in WSFS Financial in the second quarter valued at about $114,000. SG Americas Securities LLC bought a new stake in WSFS Financial in the third quarter valued at about $127,000. Finally, Lansing Street Advisors bought a new stake in WSFS Financial in the third quarter valued at about $207,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on WSFS shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a report on Monday, October 28th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $54.00 target price (down from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. DA Davidson upped their target price on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler upped their target price on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Stephens upped their target price on WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS opened at $57.52 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $51.55 and a 200-day simple moving average of $49.54. The company has a market cap of $3.39 billion, a PE ratio of 13.13 and a beta of 1.02. WSFS Financial Co. has a 12-month low of $37.09 and a 12-month high of $60.54.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.23 earnings per share. On average, equities research analysts forecast that WSFS Financial Co. will post 4.27 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. WSFS Financial’s dividend payout ratio (DPR) 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.