WSFS Financial Co. (WSFS) Holdings Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. raised its holdings in WSFS Financial Co. (NASDAQ:WSFS) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 161,757 shares of the bank’s stock after buying an additional 9,106 shares during the period. Schwab Charles Investment Management Inc.’s holdings in WSFS Financial were worth $8,622,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in WSFS. Amalgamated Bank acquired a new position in shares of WSFS Financial in the 2nd quarter valued at approximately $225,000. Engineers Gate Manager LP bought a new stake in shares of WSFS Financial in the 2nd quarter valued at approximately $252,000. A.R.T. Advisors LLC bought a new stake in shares of WSFS Financial in the 1st quarter valued at approximately $301,000. Barclays PLC increased its holdings in shares of WSFS Financial by 68.6% in the 1st quarter. Barclays PLC now owns 8,626 shares of the bank’s stock valued at $413,000 after acquiring an additional 3,509 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of WSFS Financial by 13.9% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 9,296 shares of the bank’s stock valued at $445,000 after acquiring an additional 1,135 shares during the last quarter. 78.58% of the stock is currently owned by institutional investors.
A number of brokerages have recently weighed in on WSFS. BidaskClub downgraded WSFS Financial from a “buy” rating to a “hold” rating in a report on Saturday, June 30th. Zacks Investment Research upgraded WSFS Financial from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a report on Wednesday, May 30th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of WSFS Financial in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.67.
WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Monday, July 23rd. The bank reported $0.90 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.08. WSFS Financial had a return on equity of 13.02% and a net margin of 20.57%. The business had revenue of $95.98 million during the quarter, compared to the consensus estimate of $93.63 million. equities analysts forecast that WSFS Financial Co. will post 3.44 EPS for the current year.
In related news, CEO Mark A. Turner sold 4,768 shares of the company’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $56.21, for a total transaction of $268,009.28. Following the completion of the transaction, the chief executive officer now directly owns 147,753 shares in the company, valued at approximately $8,305,196.13. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark A. Turner sold 13,343 shares of the company’s stock in a transaction on Friday, July 6th. The stock was sold at an average price of $54.29, for a total value of $724,391.47. Following the transaction, the chief executive officer now owns 148,487 shares of the company’s stock, valued at $8,061,359.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,968 shares of company stock valued at $10,508,226. 5.73% of the stock is owned by company insiders.
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.
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