Lazard Asset Management LLC Takes $1.73 Million Position in WSFS Financial Corporation $WSFS

Lazard Asset Management LLC purchased a new stake in WSFS Financial Corporation (NASDAQ:WSFS) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 26,358 shares of the bank’s stock, valued at approximately $1,725,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Root Financial Partners LLC increased its position in 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 in the last quarter. NewEdge Advisors LLC bought a new stake in shares of WSFS Financial during the fourth quarter valued at approximately $33,000. Torren Management LLC bought a new stake in shares of WSFS Financial during the fourth quarter valued at approximately $35,000. Clearstead Advisors LLC increased 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 purchasing an additional 489 shares in the last quarter. Finally, Quarry LP raised its position in 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 during the last quarter. Institutional investors own 88.49% of the company’s stock.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 transaction, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

WSFS Financial Price Performance

Shares of WSFS opened at $81.55 on Tuesday. The stock has a market cap of $4.24 billion, a P/E ratio of 13.64 and a beta of 0.76. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $82.30. The stock’s 50-day moving average price is $76.20 and its two-hundred day moving average price is $69.88. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. The company had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.41 million. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.WSFS Financial’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.27 EPS. On average, equities analysts predict that WSFS Financial Corporation will post 6.51 earnings per share for the current year.

WSFS Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. WSFS Financial’s payout ratio is currently 13.38%.

Wall Street Analyst Weigh In

A number of research analysts have commented on WSFS shares. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price target (up from $80.00) on shares of WSFS Financial in a report on Monday. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Finally, Stephens reissued an “overweight” rating and set a $87.00 price objective on shares of WSFS Financial in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.07.

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.