23,700 Shares in WSFS Financial Corporation $WSFS Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 23,700 shares of the bank’s stock, valued at approximately $1,551,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of WSFS Financial by 55.9% during the 1st quarter. SG Americas Securities LLC now owns 47,704 shares of the bank’s stock worth $3,123,000 after purchasing an additional 17,110 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in WSFS Financial in the first quarter worth $34,313,000. Hsbc Holdings PLC bought a new stake in WSFS Financial in the fourth quarter worth $1,050,000. Caitong International Asset Management Co. Ltd acquired a new position in WSFS Financial during the fourth quarter worth $106,000. Finally, DGS Capital Management LLC acquired a new position in WSFS Financial during the fourth quarter worth $330,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on WSFS shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. TD Cowen restated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. DA Davidson increased their price target on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, UBS Group set a $76.00 price target on shares of WSFS Financial in a research report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $77.07.

Insider Activity at WSFS Financial

In other news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

WSFS Financial Price Performance

NASDAQ WSFS opened at $78.47 on Thursday. WSFS Financial Corporation has a twelve month low of $49.92 and a twelve month high of $78.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The stock has a market capitalization of $4.08 billion, a PE ratio of 13.96 and a beta of 0.76. The stock has a 50-day simple moving average of $72.64 and a 200 day simple moving average of $66.30.

WSFS Financial Increases Dividend

The firm also recently declared 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost 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 presently 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.