Pzena Investment Management LLC Decreases Stock Holdings in WSFS Financial Corporation $WSFS

Pzena Investment Management LLC trimmed its holdings in WSFS Financial Corporation (NASDAQ:WSFS) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876,816 shares of the bank’s stock after selling 51,597 shares during the quarter. Pzena Investment Management LLC owned about 1.60% of WSFS Financial worth $48,435,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Torren Management LLC purchased a new position in WSFS Financial in the 4th quarter worth approximately $35,000. 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. First Horizon Corp lifted its stake in WSFS Financial by 40.1% in the 4th quarter. First Horizon Corp now owns 817 shares of the bank’s stock worth $45,000 after purchasing an additional 234 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in WSFS Financial by 265.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after purchasing an additional 706 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in WSFS Financial by 165.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,869 shares of the bank’s stock worth $103,000 after purchasing an additional 1,166 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Down 0.2%

WSFS stock opened at $71.69 on Friday. The firm has a market cap of $3.73 billion, a PE ratio of 12.76 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $68.11 and its 200-day moving average price is $62.46. WSFS Financial Corporation has a one year low of $49.92 and a one year high of $73.22.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 8th. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio is presently 14.23%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. UBS Group set a $76.00 target price on shares of WSFS Financial in a research note on Monday, April 27th. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. DA Davidson raised 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. Finally, Stephens reaffirmed an “overweight” rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $77.07.

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.