Corbyn Investment Management Inc. MD Decreases Stock Holdings in WSFS Financial Corporation $WSFS

Corbyn Investment Management Inc. MD lowered its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 36.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,838 shares of the bank’s stock after selling 11,747 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in WSFS Financial were worth $1,364,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. DGS Capital Management LLC increased its holdings in shares of WSFS Financial by 19.6% in the 1st quarter. DGS Capital Management LLC now owns 7,156 shares of the bank’s stock worth $468,000 after buying an additional 1,175 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of WSFS Financial by 12.5% in the 1st quarter. New York State Teachers Retirement System now owns 33,587 shares of the bank’s stock valued at $2,199,000 after acquiring an additional 3,726 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of WSFS Financial by 92.4% in the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after acquiring an additional 207 shares during the last quarter. Sippican Capital Advisors grew its position in WSFS Financial by 4.2% in the first quarter. Sippican Capital Advisors now owns 11,089 shares of the bank’s stock worth $726,000 after acquiring an additional 451 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in WSFS Financial by 83.6% in the first quarter. Janney Montgomery Scott LLC now owns 13,828 shares of the bank’s stock worth $905,000 after acquiring an additional 6,297 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Rodger Levenson sold 65,446 shares of WSFS Financial stock in a transaction on Wednesday, June 10th. The stock was 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 directly owned 186,088 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WSFS shares. Brean Capital started coverage on WSFS Financial in a research report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective on the stock. TD Cowen reiterated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Stephens reissued 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. UBS Group set a $76.00 price target on WSFS Financial in a report on Monday, April 27th. Finally, DA Davidson raised their price target on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.07.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $77.17 on Monday. The firm has a market capitalization of $4.02 billion, a PE ratio of 13.73 and a beta of 0.76. The business has a 50 day simple moving average of $72.95 and a two-hundred day simple moving average of $66.57. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $79.13. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85.

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 1.0%. WSFS Financial’s payout ratio is 14.23%.

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.