Ieq Capital LLC Takes Position in WSFS Financial Corporation $WSFS

Ieq Capital LLC bought a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,504 shares of the bank’s stock, valued at approximately $576,000.

A number of other institutional investors have also recently added to or reduced their stakes in WSFS. Root Financial Partners LLC boosted its position in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after buying an additional 207 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial during the 4th quarter valued at about $33,000. Torren Management LLC acquired a new position in WSFS Financial during the 4th quarter worth approximately $35,000. Clearstead Advisors LLC lifted its position in WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after acquiring an additional 489 shares in the last quarter. Finally, Quarry LP boosted its holdings 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 acquiring an additional 500 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the transaction, the executive vice president directly owned 15,207 shares of the company’s stock, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction dated 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 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 position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stephens lowered shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target for the company. in a report on Wednesday, August 12th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods raised their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, WSFS Financial presently has a consensus rating of “Hold” and a consensus target price of $83.07.

WSFS Financial Trading Down 0.1%

Shares of NASDAQ WSFS opened at $78.30 on Friday. 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 stock’s 50 day moving average price is $79.15 and its two-hundred day moving average price is $72.29. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $82.94. The stock has a market capitalization of $4.00 billion, a P/E ratio of 13.09 and a beta of 0.77.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, topping the consensus estimate of $1.50 by $0.16. The company had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.27 EPS. On average, analysts anticipate that WSFS Financial Corporation will post 6.58 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

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

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.