WSFS Financial (NASDAQ:WSFS) EVP Arthur Bacci Sells 2,005 Shares

WSFS Financial Corporation (NASDAQ:WSFS) EVP Arthur Bacci sold 2,005 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $70.51, for a total transaction of $141,372.55. Following the sale, the executive vice president directly owned 26,366 shares of the company’s stock, valued at $1,859,066.66. This represents a 7.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS traded down $0.75 during midday trading on Wednesday, hitting $67.65. The stock had a trading volume of 346,595 shares, compared to its average volume of 479,178. The company’s 50-day moving average price is $59.03 and its 200-day moving average price is $56.35. WSFS Financial Corporation has a fifty-two week low of $42.44 and a fifty-two week high of $71.32. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $3.70 billion, a P/E ratio of 13.26 and a beta of 0.79.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The business had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. During the same period last year, the firm posted $1.11 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 13th. WSFS Financial’s dividend payout ratio is currently 13.33%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WSFS. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Piper Sandler raised their price target on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Zacks Research raised shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Finally, Stephens reissued an “overweight” rating and issued a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WSFS. Norges Bank acquired a new stake in WSFS Financial during the 4th quarter worth approximately $39,193,000. Goldman Sachs Group Inc. raised its stake in shares of WSFS Financial by 71.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock valued at $25,973,000 after acquiring an additional 195,979 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of WSFS Financial during the second quarter worth $8,834,000. Citadel Advisors LLC lifted its holdings in shares of WSFS Financial by 1,190.1% during the third quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock worth $8,264,000 after purchasing an additional 141,356 shares during the period. Finally, Cooke & Bieler LP grew its stake in shares of WSFS Financial by 15.5% in the third quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank’s stock worth $55,653,000 after purchasing an additional 138,220 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

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.