Y Intercept Hong Kong Ltd Trims Stake in WSFS Financial Corporation $WSFS

Y Intercept Hong Kong Ltd lowered its position in WSFS Financial Corporation (NASDAQ:WSFS) by 89.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,296 shares of the bank’s stock after selling 37,479 shares during the period. Y Intercept Hong Kong Ltd’s holdings in WSFS Financial were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Franklin Resources Inc. raised its holdings in shares of WSFS Financial by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock worth $136,210,000 after buying an additional 32,423 shares during the period. JPMorgan Chase & Co. boosted its holdings in WSFS Financial by 2.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock valued at $83,295,000 after acquiring an additional 33,398 shares during the period. Invesco Ltd. grew its position in WSFS Financial by 6.1% in the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock valued at $58,918,000 after acquiring an additional 60,931 shares during the last quarter. Cooke & Bieler LP grew its position in WSFS Financial by 2.3% in the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock valued at $58,328,000 after acquiring an additional 23,946 shares during the last quarter. Finally, Norges Bank purchased a new stake in WSFS Financial in the fourth quarter worth $39,193,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

WSFS has been the subject of several research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens reiterated an “overweight” rating and set a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Finally, DA Davidson upped 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. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $77.07.

Insider Activity at WSFS Financial

In other news, 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 value of $4,850,203.06. Following the completion of the sale, the chief executive officer 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $78.17 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average price is $73.85 and its 200-day moving average price is $67.69. The firm has a market cap of $4.07 billion, a P/E ratio of 13.91 and a beta of 0.76. WSFS Financial Corporation has a 12 month low of $49.92 and a 12 month high of $79.13.

WSFS Financial Increases Dividend

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

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.