WSFS Financial (NASDAQ:WSFS) Sets New 1-Year High – Here’s What Happened

Shares of WSFS Financial Corporation (NASDAQ:WSFS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $76.51 and last traded at $76.6550, with a volume of 8002 shares traded. The stock had previously closed at $76.00.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Brean Capital began coverage on WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target on the stock. Stephens restated an “overweight” rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a research note on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Finally, TD Cowen reiterated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, WSFS Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Trading Up 1.6%

The stock has a 50 day moving average of $72.04 and a 200-day moving average of $65.71. The company has a market capitalization of $4.05 billion, a P/E ratio of 13.86 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.20 dividend. The ex-dividend date was Friday, May 8th. This is an increase 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 1.0%. WSFS Financial’s dividend payout ratio (DPR) is currently 14.23%.

Insider Activity at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of WSFS Financial stock in a transaction on 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 transaction, the chief executive officer owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC raised its position in shares of WSFS Financial by 92.4% during the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares during the last quarter. NewEdge Advisors LLC bought a new stake in WSFS Financial in the 4th quarter valued at $33,000. Torren Management LLC purchased a new stake in WSFS Financial in the 4th quarter worth $35,000. Clearstead Advisors LLC lifted its stake 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. Finally, Quarry LP boosted its holdings in shares of WSFS Financial by 159.7% during the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after purchasing an additional 500 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Company Profile

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.