WSFS Financial (NASDAQ:WSFS) Sets New 12-Month High – Here’s Why

WSFS Financial Corporation (NASDAQ:WSFS)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $79.42 and last traded at $79.39, with a volume of 15646 shares trading hands. The stock had previously closed at $78.17.

Analyst Ratings Changes

WSFS has been the topic of several recent research reports. DA Davidson lifted their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. TD Cowen restated 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. Finally, Piper Sandler reaffirmed 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. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $77.07.

WSFS Financial Price Performance

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 business has a 50 day moving average price of $74.18 and a 200-day moving average price of $67.94. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.21 and a beta of 0.76.

WSFS Financial Increases Dividend

The firm also recently declared 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 of this dividend was Friday, May 8th. WSFS Financial’s payout ratio is presently 14.23%.

Insider Activity

In other 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 transaction of $4,850,203.06. Following the completion of the sale, the chief executive officer owned 186,088 shares of the company’s stock, 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 SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its holdings in WSFS Financial by 102.6% in the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock worth $537,000 after purchasing an additional 5,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of WSFS Financial by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after purchasing an additional 1,176 shares during the period. Millennium Management LLC boosted its position in shares of WSFS Financial by 230.4% during the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock worth $3,772,000 after purchasing an additional 50,717 shares in the last quarter. United Services Automobile Association bought a new position in shares of WSFS Financial during the 1st quarter worth about $204,000. Finally, Jane Street Group LLC grew its stake in shares of WSFS Financial by 579.0% in the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after buying an additional 100,171 shares during the period. 88.49% of the stock is 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.