WSFS Financial (NASDAQ:WSFS) Hits New 12-Month High – Here’s What Happened

WSFS Financial Corporation (NASDAQ:WSFS) reached a new 52-week high during trading on Monday . The company traded as high as $75.35 and last traded at $75.76, with a volume of 452740 shares changing hands. The stock had previously closed at $75.24.

Analyst Ratings Changes

WSFS has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and set a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Piper Sandler restated a “neutral” rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Brean Capital initiated coverage on WSFS Financial in a research report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target for the company. Finally, 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Stock Performance

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 business has a 50 day simple moving average of $71.11 and a two-hundred day simple moving average of $64.75. The firm has a market cap of $3.88 billion, a PE ratio of 13.26 and a beta of 0.76.

WSFS Financial Increases Dividend

The firm 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. The ex-dividend date was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s payout ratio is 14.23%.

Insiders Place Their Bets

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. Root Financial Partners LLC raised its holdings in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after acquiring an additional 207 shares in the last quarter. NewEdge Advisors LLC bought a new stake in shares of WSFS Financial in the fourth quarter valued at about $33,000. Torren Management LLC bought a new stake in shares of WSFS Financial in the fourth quarter valued at about $35,000. Clearstead Advisors LLC raised its holdings in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after acquiring an additional 489 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring 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.