UNIVEST FINANCIAL Corp Makes New $891,000 Investment in WSFS Financial Corporation $WSFS

UNIVEST FINANCIAL Corp bought a new stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) in the second quarter, Holdings Channel reports. The fund bought 11,616 shares of the bank’s stock, valued at approximately $891,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC lifted its holdings 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 in the last quarter. NewEdge Advisors LLC purchased a new position in WSFS Financial during the fourth quarter valued at approximately $33,000. Torren Management LLC bought a new stake in WSFS Financial during the 4th quarter worth approximately $35,000. Clearstead Advisors LLC increased its holdings 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 during the period. Finally, Quarry LP lifted its stake 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 in the last quarter. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Price Performance

Shares of WSFS Financial stock opened at $81.81 on Tuesday. The firm has a market capitalization of $4.18 billion, a PE ratio of 13.68 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $82.94. The business’s 50-day moving average price is $78.20 and its 200-day moving average price is $71.54.

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

WSFS Financial Announces Dividend

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

Insider Buying and Selling

In other news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the sale, the executive vice president directly owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This trade represents a 18.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the subject of several analyst reports. Piper Sandler reissued a “neutral” rating and issued a $90.00 price target (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price objective on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Stephens cut WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a research report on Wednesday, August 12th. Finally, UBS Group set a $76.00 target price on WSFS Financial in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $83.07.

WSFS Financial 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.