Michael Donahue Sells 3,247 Shares of WSFS Financial (NASDAQ:WSFS) Stock

WSFS Financial Corporation (NASDAQ:WSFS) Director Michael Donahue sold 3,247 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total transaction of $258,006.62. Following the completion of the sale, the director directly owned 11,495 shares in the company, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WSFS Financial Trading Down 0.3%

NASDAQ WSFS opened at $79.73 on Friday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial Corporation has a 52 week low of $49.92 and a 52 week high of $82.94. The stock has a market capitalization of $4.07 billion, a PE ratio of 13.33 and a beta of 0.76. The firm has a 50 day moving average of $79.53 and a two-hundred day moving average of $73.09.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. The business had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. As a group, research analysts expect 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 was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.20 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is currently 13.38%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WSFS. Stephens cut WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price objective for the company. in a research report on Wednesday, August 12th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upped their price target on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, WSFS Financial presently has an average rating of “Hold” and a consensus target price of $83.07.

Hedge Funds Weigh In On WSFS Financial

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of WSFS Financial in the 2nd quarter valued at about $576,695,000. California State Teachers Retirement System grew its stake in WSFS Financial by 6,712.7% during the 2nd quarter. California State Teachers Retirement System now owns 4,529,142 shares of the bank’s stock worth $347,521,000 after buying an additional 4,462,661 shares during the last quarter. Franklin Resources Inc. lifted its stake in WSFS Financial by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock valued at $136,210,000 after buying an additional 32,423 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of WSFS Financial by 6.1% in the fourth 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 period. Finally, Cooke & Bieler LP grew its position in shares of WSFS Financial by 2.3% during the fourth quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock worth $58,328,000 after acquiring an additional 23,946 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest locally managed banks in the United States.

WSFS Bank provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, mortgages, credit and debit cards, treasury management, and other deposit and credit products.