WSFS Financial Co. (WSFS) Holdings Increased by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its holdings in shares of WSFS Financial Co. (NASDAQ:WSFS) by 6.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,757 shares of the bank’s stock after acquiring an additional 9,106 shares during the period. Schwab Charles Investment Management Inc. owned 0.51% of WSFS Financial worth $8,622,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. SG Americas Securities LLC grew its holdings in WSFS Financial by 22.1% in the 1st quarter. SG Americas Securities LLC now owns 14,197 shares of the bank’s stock valued at $680,000 after buying an additional 2,570 shares during the period. Swiss National Bank lifted its stake in shares of WSFS Financial by 4.6% in the 1st quarter. Swiss National Bank now owns 54,700 shares of the bank’s stock valued at $2,620,000 after purchasing an additional 2,400 shares in the last quarter. Northern Trust Corp lifted its stake in shares of WSFS Financial by 0.4% in the 1st quarter. Northern Trust Corp now owns 1,078,664 shares of the bank’s stock valued at $51,668,000 after purchasing an additional 4,333 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of WSFS Financial by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,270,585 shares of the bank’s stock valued at $60,861,000 after purchasing an additional 9,198 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of WSFS Financial by 120.6% in the 1st quarter. OppenheimerFunds Inc. now owns 443,598 shares of the bank’s stock valued at $21,249,000 after purchasing an additional 242,467 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

In related news, CFO Dominic C. Canuso purchased 4,245 shares of WSFS Financial stock in a transaction that occurred on Thursday, August 30th. The shares were purchased at an average cost of $48.95 per share, with a total value of $207,792.75. Following the transaction, the chief financial officer now owns 3,447 shares of the company’s stock, valued at approximately $168,730.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark A. Turner sold 42,000 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $48.72, for a total value of $2,046,240.00. Following the transaction, the chief executive officer now directly owns 153,738 shares in the company, valued at $7,490,115.36. The disclosure for this sale can be found here. Insiders have sold a total of 198,968 shares of company stock worth $10,508,226 over the last three months. 5.73% of the stock is currently owned by corporate insiders.

WSFS has been the topic of several research analyst reports. BidaskClub lowered WSFS Financial from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. Zacks Investment Research lowered WSFS Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, May 29th. Boenning Scattergood reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Thursday, August 9th. Finally, Sandler O’Neill reaffirmed a “buy” rating and issued a $63.00 price objective on shares of WSFS Financial in a research note on Sunday, August 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.67.

WSFS Financial stock opened at $47.45 on Wednesday. The company has a market cap of $1.51 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.15 and a beta of 1.18. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.07. WSFS Financial Co. has a one year low of $45.71 and a one year high of $57.70.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The firm had revenue of $95.98 million for the quarter, compared to analyst estimates of $93.63 million. WSFS Financial had a return on equity of 13.02% and a net margin of 20.57%. sell-side analysts expect that WSFS Financial Co. will post 3.44 EPS for the current year.

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. The company offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as jumbo certificates of deposit.

Further Reading: Diversification

Institutional Ownership by Quarter for WSFS Financial (NASDAQ:WSFS)

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