Insider Selling: WSFS Financial (NASDAQ:WSFS) CEO Sells 65,446 Shares of Stock

WSFS Financial Corporation (NASDAQ:WSFS) CEO Rodger Levenson sold 65,446 shares of the company’s 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 completion of the sale, the chief executive officer 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.

WSFS Financial Stock Performance

NASDAQ WSFS traded up $0.41 during trading hours on Friday, hitting $74.75. 147,309 shares of the stock were exchanged, compared to its average volume of 420,721. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.89 billion, a price-to-earnings ratio of 13.29 and a beta of 0.76. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $75.32. The stock has a 50-day moving average of $70.61 and a 200 day moving average of $64.36.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.20 dividend. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s payout ratio is currently 14.23%.

Wall Street Analysts Forecast Growth

WSFS has been the topic of a number of recent analyst reports. Stephens reaffirmed 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. Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Piper Sandler reissued a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. DA Davidson raised their price target on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, WSFS Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.07.

Institutional Trading of WSFS Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in WSFS Financial during the fourth quarter worth about $39,193,000. Vaughan Nelson Investment Management L.P. acquired a new stake in WSFS Financial during the first quarter valued at approximately $34,313,000. Goldman Sachs Group Inc. increased its position in shares of WSFS Financial by 71.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after purchasing an additional 195,979 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of WSFS Financial by 64.0% in the first quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock valued at $27,983,000 after buying an additional 166,837 shares in the last quarter. Finally, Citadel Advisors LLC raised its position in WSFS Financial by 1,190.1% in the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock worth $8,264,000 after purchasing an additional 141,356 shares during the last quarter. 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.