Norges Bank Buys Shares of 709,500 WSFS Financial Corporation $WSFS

Norges Bank bought a new stake in WSFS Financial Corporation (NASDAQ:WSFS) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 709,500 shares of the bank’s stock, valued at approximately $39,193,000.

A number of other institutional investors have also recently added to or reduced their stakes in WSFS. Tudor Investment Corp ET AL acquired a new stake in shares of WSFS Financial in the third quarter worth about $1,153,000. Denali Advisors LLC acquired a new stake in shares of WSFS Financial in the fourth quarter worth about $2,425,000. Quantbot Technologies LP acquired a new stake in shares of WSFS Financial in the third quarter worth about $1,169,000. Numerai GP LLC acquired a new stake in shares of WSFS Financial in the third quarter worth about $5,713,000. Finally, JPMorgan Chase & Co. lifted its position in shares of WSFS Financial by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after buying an additional 33,398 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Brean Capital began coverage on WSFS Financial in a research report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective for the company. DA Davidson upped their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. Zacks Research cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, UBS Group set a $76.00 target price on shares of WSFS Financial in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.07.

WSFS Financial Trading Up 0.5%

WSFS Financial stock opened at $72.15 on Tuesday. The business has a 50 day moving average price of $70.04 and a two-hundred day moving average price of $63.96. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 12.84 and a beta of 0.76. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $73.22.

WSFS Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a $0.20 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio is currently 14.23%.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.