Key Points
- WSFS Financial CEO Rodger Levenson sold 65,446 shares on June 10 at an average price of $74.11, generating about $4.85 million in proceeds. After the sale, he still directly owned 186,088 shares, though his stake fell by 26.02%.
- The company recently raised its quarterly dividend to $0.20 per share from $0.17, equal to an annualized yield of about 1.1%. The payout ratio remains low at 14.23%.
- Wall Street sentiment is mixed but constructive, with analysts assigning a Moderate Buy consensus and an average price target of $77.07. WSFS also trades near its 52-week high, supported by a market cap of $3.92 billion.
WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) CEO Rodger Levenson sold 65,446 shares of the company's stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares of the company's stock, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.
WSFS Financial Price Performance
NASDAQ WSFS opened at $75.24 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $70.79 and a 200 day simple moving average of $64.44. The company has a market cap of $3.92 billion, a P/E ratio of 13.39 and a beta of 0.76. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $75.35.
WSFS Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. This is a positive change from WSFS Financial's previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial's dividend payout ratio is currently 14.23%.
Institutional Trading of WSFS Financial
Hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new stake in WSFS Financial in the 3rd quarter valued at $1,153,000. Denali Advisors LLC bought a new stake in WSFS Financial in the 4th quarter valued at $2,425,000. Quantbot Technologies LP bought a new stake in WSFS Financial in the 3rd quarter valued at $1,169,000. Numerai GP LLC bought a new stake in WSFS Financial in the 3rd quarter valued at $5,713,000. Finally, JPMorgan Chase & Co. boosted its holdings in WSFS Financial by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank's stock valued at $83,295,000 after purchasing an additional 33,398 shares during the period. 88.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the stock. Piper Sandler restated a "neutral" rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Brean Capital assumed coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They set a "buy" rating and a $74.50 price target for the company. Stephens restated an "overweight" rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. TD Cowen restated a "buy" rating and set a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Finally, DA Davidson upped their price target on shares of WSFS Financial from $70.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $77.07.
Read Our Latest Stock Analysis on WSFS Financial
WSFS Financial Company Profile
(
Get Free Report)
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.
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