abrdn plc Has $31.66 Million Stock Position in WSFS Financial Co. (NASDAQ:WSFS)

abrdn plc raised its position in WSFS Financial Co. (NASDAQ:WSFS) by 1.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 620,808 shares of the bank’s stock after purchasing an additional 6,380 shares during the quarter. abrdn plc’s holdings in WSFS Financial were worth $31,655,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of WSFS Financial by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after acquiring an additional 372,402 shares in the last quarter. 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 worth $183,450,000 after purchasing an additional 110,279 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of WSFS Financial by 14.1% during the first quarter. Champlain Investment Partners LLC now owns 1,293,281 shares of the bank’s stock worth $58,379,000 after purchasing an additional 160,090 shares during the last quarter. American Century Companies Inc. increased its stake in shares of WSFS Financial by 27.9% in the second quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after buying an additional 191,566 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in WSFS Financial by 35.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 201,985 shares of the bank’s stock valued at $9,119,000 after acquiring an additional 53,292 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

WSFS Financial Price Performance

WSFS Financial stock opened at $50.00 on Thursday. 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 firm has a market capitalization of $2.96 billion, a P/E ratio of 11.42 and a beta of 1.01. The business has a 50-day moving average of $51.38 and a 200-day moving average of $48.70. WSFS Financial Co. has a 1 year low of $34.54 and a 1 year high of $58.59.

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, beating analysts’ consensus estimates of $1.06 by $0.02. The firm had revenue of $267.61 million during the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, equities analysts anticipate that WSFS Financial Co. will post 4.32 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 annualized dividend and a yield of 1.20%. WSFS Financial’s dividend payout ratio is presently 13.70%.

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.