SG Americas Securities LLC Raises Stock Position in WSFS Financial Corporation $WSFS

SG Americas Securities LLC increased its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 55.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,704 shares of the bank’s stock after acquiring an additional 17,110 shares during the quarter. SG Americas Securities LLC’s holdings in WSFS Financial were worth $3,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. NewEdge Advisors LLC acquired a new stake in WSFS Financial in the fourth quarter valued at approximately $33,000. Torren Management LLC acquired a new position in shares of WSFS Financial during the fourth quarter worth $35,000. Clearstead Advisors LLC lifted its holdings in shares of WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after purchasing an additional 489 shares during the last quarter. Quarry LP boosted its position in shares of WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. Finally, First Horizon Corp boosted its position in shares of WSFS Financial by 40.1% in the 4th quarter. First Horizon Corp now owns 817 shares of the bank’s stock worth $45,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Transactions at WSFS Financial

In other WSFS Financial news, 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 value of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This 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 owned by corporate insiders.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS opened at $76.73 on Wednesday. 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 Corporation has a 12 month low of $49.92 and a 12 month high of $78.39. The company has a 50 day simple moving average of $72.48 and a two-hundred day simple moving average of $66.15. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 13.65 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. Investors of record on Friday, May 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend 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 dividend payout ratio is 14.23%.

Analyst Ratings Changes

Several brokerages recently issued reports on WSFS. TD Cowen reaffirmed a “buy” rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a report on Monday, April 27th. Finally, Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.07.

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.