Short Interest in WSFS Financial Co. (NASDAQ:WSFS) Drops By 13.2%

WSFS Financial Co. (NASDAQ:WSFS) was the recipient of a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 1,320,000 shares, a drop of 13.2% from the December 31st total of 1,520,000 shares. Based on an average daily volume of 291,100 shares, the days-to-cover ratio is presently 4.5 days.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $56.00 on Monday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 12.67 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. WSFS Financial has a 12 month low of $40.19 and a 12 month high of $62.75. The stock’s 50 day moving average price is $55.51 and its 200 day moving average price is $53.65.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Monday, January 27th. The bank reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. Equities research analysts anticipate that WSFS Financial will post 4.23 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, February 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.07%. WSFS Financial’s dividend payout ratio (DPR) is 13.57%.

Analysts Set New Price Targets

WSFS has been the topic of several analyst reports. Stephens restated an “overweight” rating and issued a $68.00 price target on shares of WSFS Financial in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 target price (down from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.25.

Institutional Trading of WSFS Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its position in WSFS Financial by 3.0% in the third quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock worth $154,519,000 after buying an additional 87,781 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of WSFS Financial by 1.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,299,998 shares of the bank’s stock worth $66,287,000 after acquiring an additional 14,792 shares in the last quarter. abrdn plc grew its holdings in shares of WSFS Financial by 1.0% in the 3rd quarter. abrdn plc now owns 620,808 shares of the bank’s stock worth $31,655,000 after acquiring an additional 6,380 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of WSFS Financial by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank’s stock worth $16,856,000 after purchasing an additional 10,915 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in shares of WSFS Financial by 1.5% during the third quarter. Eagle Asset Management Inc. now owns 255,452 shares of the bank’s stock valued at $14,295,000 after purchasing an additional 3,861 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

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.