Insider Selling: WSFS Financial (NASDAQ:WSFS) Director Sells $258,006.62 in Stock

WSFS Financial Corporation (NASDAQ:WSFS) Director Michael Donahue sold 3,247 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $79.46, for a total transaction of $258,006.62. Following the completion of the sale, the director directly owned 11,495 shares of the company’s stock, valued at $913,392.70. This represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

WSFS Financial Trading Down 0.4%

NASDAQ:WSFS traded down $0.34 on Friday, hitting $79.60. The stock had a trading volume of 43,525 shares, compared to its average volume of 426,228. 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 has a market cap of $4.07 billion, a price-to-earnings ratio of 13.32 and a beta of 0.76. The company has a fifty day moving average price of $79.48 and a two-hundred day moving average price of $73.04. WSFS Financial Corporation has a 1-year low of $49.92 and a 1-year high of $82.94.

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

WSFS Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is currently 13.38%.

Analyst Upgrades and Downgrades

WSFS has been the topic of several recent analyst reports. TD Cowen restated a “buy” rating on shares of WSFS Financial in a report on Wednesday, July 29th. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods upped their price target on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, WSFS Financial has a consensus rating of “Hold” and a consensus target price of $83.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WSFS. BlackRock Inc. purchased a new position in WSFS Financial in the second quarter valued at $576,695,000. California State Teachers Retirement System increased its holdings in WSFS Financial by 6,712.7% during the 2nd quarter. California State Teachers Retirement System now owns 4,529,142 shares of the bank’s stock worth $347,521,000 after purchasing an additional 4,462,661 shares during the period. Pzena Investment Management LLC purchased a new stake in WSFS Financial during the 2nd quarter worth about $68,174,000. Norges Bank acquired a new stake in WSFS Financial in the 4th quarter valued at about $39,193,000. Finally, Bank of America Corp DE acquired a new stake in WSFS Financial in the 2nd quarter valued at about $49,574,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.