Louisiana State Employees Retirement System Invests $1.55 Million in WSFS Financial Corporation $WSFS

Louisiana State Employees Retirement System acquired a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the first quarter, Holdings Channel.com reports. The firm acquired 23,700 shares of the bank’s stock, valued at approximately $1,551,000.

Several other hedge funds have also made changes to their positions in WSFS. SG Americas Securities LLC lifted its stake in shares of WSFS Financial by 55.9% in the first quarter. SG Americas Securities LLC now owns 47,704 shares of the bank’s stock valued at $3,123,000 after buying an additional 17,110 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in WSFS Financial in the 1st quarter valued at approximately $34,313,000. Hsbc Holdings PLC acquired a new position in WSFS Financial in the 4th quarter valued at approximately $1,050,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of WSFS Financial in the 4th quarter worth approximately $106,000. Finally, DGS Capital Management LLC bought a new stake in shares of WSFS Financial in the 4th quarter worth approximately $330,000. Institutional investors own 88.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WSFS shares. Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Brean Capital assumed coverage on WSFS Financial in a research report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th. Finally, DA Davidson increased their price objective on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Four research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Trading Up 2.3%

WSFS stock opened at $78.47 on Thursday. WSFS Financial Corporation has a 1-year low of $49.92 and a 1-year high of $78.79. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The business’s 50 day moving average is $72.64 and its 200-day moving average is $66.30. The firm has a market cap of $4.08 billion, a P/E ratio of 13.96 and a beta of 0.76.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial’s dividend payout ratio (DPR) is currently 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 transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

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.