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 shares of WSFS Financial Co. (NASDAQ:WSFS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,085 shares of the bank’s stock, valued at approximately $718,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of WSFS Financial by 5.3% during the first 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 raised its stake in shares of WSFS Financial by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after purchasing an additional 110,279 shares during the period. Champlain Investment Partners LLC lifted its holdings in WSFS Financial by 14.1% during the 1st 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 in the last quarter. American Century Companies Inc. boosted its stake in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock worth $41,241,000 after purchasing an additional 191,566 shares during the period. Finally, abrdn plc grew its holdings in WSFS Financial by 1.0% during the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock valued at $31,655,000 after buying an additional 6,380 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $57.47 on Friday. The company’s fifty day moving average price is $51.68 and its 200-day moving average price is $49.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 13.12 and a beta of 1.02. 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 earnings results on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. During the same quarter in the prior year, the firm earned $1.23 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.04%. WSFS Financial’s dividend payout ratio is 13.70%.

Wall Street Analysts Forecast Growth

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

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.