WSFS Financial (NASDAQ:WSFS) CEO Sells $4,850,203.06 in Stock

WSFS Financial Corporation (NASDAQ:WSFS) CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, the chief executive officer owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WSFS Financial Price Performance

Shares of WSFS stock traded up $0.41 on Friday, reaching $74.75. 147,309 shares of the company were exchanged, compared to its average volume of 420,721. The business has a 50-day moving average price of $70.61 and a 200 day moving average price of $64.36. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $75.32. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 13.29 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85.

WSFS Financial Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WSFS. Franklin Resources Inc. boosted its holdings in shares of WSFS Financial by 1.3% in the 4th quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock valued at $136,210,000 after buying an additional 32,423 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 last quarter. Invesco Ltd. boosted its position in shares of WSFS Financial by 6.1% in the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock valued at $58,918,000 after purchasing an additional 60,931 shares during the period. Cooke & Bieler LP grew its stake in WSFS Financial by 2.3% during the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock worth $58,328,000 after buying an additional 23,946 shares during the last quarter. Finally, Pzena Investment Management LLC increased its position in WSFS Financial by 14.5% during the third quarter. Pzena Investment Management LLC now owns 928,413 shares of the bank’s stock worth $50,069,000 after buying an additional 117,244 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Analysts Set New Price Targets

WSFS has been the subject of a number of recent research reports. Stephens reiterated an “overweight” rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Brean Capital initiated coverage on WSFS Financial in a research report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target for the company. TD Cowen reaffirmed a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. UBS Group set a $76.00 price objective on WSFS Financial in a research note on Monday, April 27th. Finally, Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, WSFS Financial presently has an average rating of “Moderate Buy” and an average price target of $77.07.

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.