Oliver Luxxe Assets LLC trimmed its position in shares of WSFS Financial Corporation (NASDAQ:WSFS – Free Report) by 33.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,921 shares of the bank’s stock after selling 11,507 shares during the period. Oliver Luxxe Assets LLC’s holdings in WSFS Financial were worth $1,759,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. acquired a new position in shares of WSFS Financial in the 2nd quarter valued at approximately $1,384,000. Baron Wealth Management LLC acquired a new stake in shares of WSFS Financial during the 2nd quarter worth approximately $216,000. GAMMA Investing LLC increased its stake in WSFS Financial by 11.9% in the second quarter. GAMMA Investing LLC now owns 2,414 shares of the bank’s stock valued at $185,000 after acquiring an additional 256 shares during the last quarter. Stillwater Private Wealth LLC bought a new position in WSFS Financial in the first quarter valued at approximately $258,000. Finally, Glenmede Trust Co. NA raised its position in WSFS Financial by 4.1% during the first quarter. Glenmede Trust Co. NA now owns 12,804 shares of the bank’s stock valued at $838,000 after purchasing an additional 503 shares in the last quarter. 88.49% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their price target on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Piper Sandler restated a “neutral” rating and set a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Stephens reiterated an “overweight” rating and issued a $87.00 target price on shares of WSFS Financial in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.07.
Insider Transactions at WSFS Financial
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 owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total transaction of $286,090.00. Following the sale, the executive vice president owned 15,207 shares in the company, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.
WSFS Financial Price Performance
Shares of NASDAQ:WSFS opened at $81.27 on Monday. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $82.94. The company has a market capitalization of $4.15 billion, a PE ratio of 13.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day moving average of $76.98 and a 200-day moving average of $70.59.
WSFS Financial (NASDAQ:WSFS – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.16. The company had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.41 million. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.WSFS Financial’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS. On average, equities analysts predict that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.
WSFS Financial Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.
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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