Mill Creek Capital Advisors LLC Takes $718,000 Position in WSFS Financial Co. (NASDAQ:WSFS)

Mill Creek Capital Advisors LLC purchased a new stake in WSFS Financial Co. (NASDAQ:WSFS) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,085 shares of the bank’s stock, valued at approximately $718,000.

Several other hedge funds also recently made changes to their positions in the business. Louisiana State Employees Retirement System increased its holdings in WSFS Financial by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock valued at $1,419,000 after buying an additional 200 shares during the period. Diversified Trust Co boosted its position in WSFS Financial by 2.0% during the 2nd quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after buying an additional 225 shares during the period. GAMMA Investing LLC grew its holdings in WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after acquiring an additional 295 shares during the last quarter. Profund Advisors LLC raised its stake in shares of WSFS Financial by 9.4% during the second quarter. Profund Advisors LLC now owns 5,273 shares of the bank’s stock valued at $248,000 after acquiring an additional 452 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in WSFS Financial by 6.0% during the 1st quarter. ProShare Advisors LLC now owns 12,182 shares of the bank’s stock worth $550,000 after purchasing an additional 693 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Stock Performance

Shares of WSFS opened at $57.47 on Friday. The stock has a 50-day moving average of $51.68 and a 200-day moving average of $49.69. The company has a market cap of $3.38 billion, a PE ratio of 13.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. WSFS Financial Co. has a one year low of $37.09 and a one year high of $60.54.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate 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 was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.23 earnings per share. On average, equities research analysts predict that WSFS Financial Co. will post 4.27 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Friday, November 8th. WSFS Financial’s dividend payout ratio is 13.70%.

Analyst Upgrades and Downgrades

WSFS has been the subject of several analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Stephens lifted their target price on shares of WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Piper Sandler upped their price target 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. DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Janney Montgomery Scott restated 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.75.

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.