Clearbridge Investments LLC Sells 10,897 Shares of WSFS Financial Corporation $WSFS

Clearbridge Investments LLC trimmed its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 6.9% during the 4th quarter, Holdings Channel reports. The fund owned 147,697 shares of the bank’s stock after selling 10,897 shares during the period. Clearbridge Investments LLC’s holdings in WSFS Financial were worth $8,159,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew 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 worth $83,295,000 after acquiring an additional 33,398 shares in the last quarter. Cooke & Bieler LP raised its stake in WSFS Financial by 2.3% in the fourth quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock worth $58,328,000 after buying an additional 23,946 shares in the last quarter. Invesco Ltd. raised its stake in WSFS Financial by 2.1% in the third quarter. Invesco Ltd. now owns 1,005,660 shares of the bank’s stock worth $54,235,000 after buying an additional 20,293 shares in the last quarter. Pzena Investment Management LLC raised its stake in WSFS Financial by 14.5% in the third quarter. Pzena Investment Management LLC now owns 928,413 shares of the bank’s stock worth $50,069,000 after buying an additional 117,244 shares in the last quarter. Finally, Norges Bank bought a new position in WSFS Financial in the fourth quarter worth approximately $39,193,000. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Trading Up 1.1%

NASDAQ WSFS opened at $74.04 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.85 billion, a PE ratio of 13.17 and a beta of 0.76. WSFS Financial Corporation has a 52 week low of $49.92 and a 52 week high of $74.69. The company has a 50 day moving average price of $70.43 and a 200 day moving average price of $64.23.

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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s payout ratio is 14.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen reissued a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Brean Capital initiated coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. UBS Group set a $76.00 price objective on WSFS Financial in a research report on Monday, April 27th. Finally, Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, WSFS Financial has an average rating of “Moderate Buy” and a consensus target price of $77.07.

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.