Hsbc Holdings PLC Purchases Shares of 18,993 WSFS Financial Corporation $WSFS

Hsbc Holdings PLC purchased a new stake in WSFS Financial Corporation (NASDAQ:WSFS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 18,993 shares of the bank’s stock, valued at approximately $1,050,000.

A number of other institutional investors have also made changes to their positions in WSFS. Norges Bank acquired a new position in shares of WSFS Financial during the fourth quarter worth approximately $39,193,000. Goldman Sachs Group Inc. lifted its stake in shares of WSFS Financial by 71.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock valued at $25,973,000 after buying an additional 195,979 shares during the period. Citadel Advisors LLC grew its position in 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 buying an additional 141,356 shares in the last quarter. Tudor Investment Corp ET AL grew its holdings in shares of WSFS Financial by 541.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 137,124 shares of the bank’s stock worth $7,575,000 after purchasing an additional 115,742 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in WSFS Financial by 31.6% in the 2nd quarter. Raymond James Financial Inc. now owns 441,671 shares of the bank’s stock valued at $24,292,000 after buying an additional 105,983 shares during the period. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Price Performance

WSFS stock opened at $77.79 on Tuesday. The stock has a 50-day moving average price of $73.61 and a two-hundred day moving average price of $67.39. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $79.13. The stock has a market cap of $4.05 billion, a PE ratio of 13.84 and a beta of 0.76. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial’s dividend payout ratio is 14.23%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WSFS. Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. DA Davidson boosted their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Stephens reissued an “overweight” rating and issued a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, WSFS Financial currently has an average rating of “Moderate Buy” and an average target price of $77.07.

Insider Buying and Selling

In other news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

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.