Vaughan Nelson Investment Management L.P. Acquires Shares of 524,180 WSFS Financial Corporation $WSFS

Vaughan Nelson Investment Management L.P. bought a new position in shares of WSFS Financial Corporation (NASDAQ:WSFS) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 524,180 shares of the bank’s stock, valued at approximately $34,313,000. Vaughan Nelson Investment Management L.P. owned 1.00% of WSFS Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC acquired a new stake in WSFS Financial during the fourth quarter worth approximately $33,000. Torren Management LLC bought a new position in WSFS Financial during the 4th quarter worth $35,000. Clearstead Advisors LLC raised its holdings in WSFS Financial by 167.5% in the 4th 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. Quarry LP raised its holdings in WSFS Financial by 159.7% in the 3rd 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. Finally, First Horizon Corp lifted its position in shares of WSFS Financial by 40.1% during the 4th quarter. First Horizon Corp now owns 817 shares of the bank’s stock valued at $45,000 after acquiring an additional 234 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WSFS has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th. UBS Group set a $76.00 price target on WSFS Financial in a research note on Monday, April 27th. Stephens reaffirmed an “overweight” rating and set a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Brean Capital began coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 target price on the stock. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $77.07.

Insider Activity

In other news, CEO Rodger Levenson sold 65,446 shares of the firm’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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $74.14 on Monday. WSFS Financial Corporation has a one year low of $49.92 and a one year high of $76.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 13.19 and a beta of 0.76. The firm has a 50 day simple moving average of $71.49 and a 200 day simple moving average of $65.13.

WSFS Financial Increases Dividend

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

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.