Fieldview Capital Management LLC acquired a new position in WSFS Financial Corporation (NASDAQ:WSFS – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,102 shares of the bank’s stock, valued at approximately $613,000.
Other institutional investors have also added to or reduced their stakes in the company. Torren Management LLC bought a new stake in WSFS Financial in the 4th quarter worth about $35,000. Clearstead Advisors LLC grew its position in WSFS Financial by 167.5% in the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after purchasing an additional 489 shares in the last quarter. Quarry LP grew its position in WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. First Horizon Corp grew its position in WSFS Financial by 40.1% in the 4th quarter. First Horizon Corp now owns 817 shares of the bank’s stock worth $45,000 after purchasing an additional 234 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of WSFS Financial by 265.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock valued at $53,000 after acquiring an additional 706 shares during the period. 88.49% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on WSFS. TD Cowen restated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. DA Davidson raised their price target on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Piper Sandler restated a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. Finally, Brean Capital began coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target for the company. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.07.
Insider Buying and Selling
In related news, CEO Rodger Levenson sold 65,446 shares of the firm’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 transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This trade represents a 26.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
WSFS Financial Trading Down 1.4%
Shares of WSFS stock opened at $74.17 on Tuesday. The company has a 50 day moving average of $70.95 and a 200-day moving average of $64.63. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $76.37. The firm has a market cap of $3.86 billion, a P/E ratio of 13.20 and a beta of 0.76.
WSFS Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were issued a $0.20 dividend. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. WSFS Financial’s payout ratio is 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.
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