WSFS Financial Corporation (NASDAQ:WSFS – Get Free Report)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $78.43 and last traded at $78.5550, with a volume of 92488 shares trading hands. The stock had previously closed at $76.73.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on WSFS shares. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. UBS Group set a $76.00 target price on WSFS Financial in a research report on Monday, April 27th. Stephens reiterated an “overweight” rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. DA Davidson increased their price target on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $77.07.
Read Our Latest Research Report on WSFS Financial
WSFS Financial Price Performance
WSFS Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a 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 payout ratio is presently 14.23%.
Insider Buying and Selling
In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of WSFS. Root Financial Partners LLC grew its holdings in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after purchasing an additional 207 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at $33,000. Torren Management LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at $35,000. Clearstead Advisors LLC boosted its position in shares of 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. Finally, Quarry LP boosted its position in shares of 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. Hedge funds and other institutional investors own 88.49% of the company’s stock.
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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