Renaissance Technologies LLC Trims Stock Position in WSFS Financial Corporation $WSFS

Renaissance Technologies LLC lowered its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 41.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,077 shares of the bank’s stock after selling 16,400 shares during the period. Renaissance Technologies LLC’s holdings in WSFS Financial were worth $1,511,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its holdings in WSFS Financial by 11.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after acquiring an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in WSFS Financial by 0.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after acquiring an additional 198 shares during the period. Root Financial Partners LLC boosted its position in WSFS Financial by 92.4% in the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of WSFS Financial by 23.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock worth $63,000 after purchasing an additional 221 shares during the period. Finally, Lido Advisors LLC grew its stake in shares of WSFS Financial by 3.7% during the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock worth $345,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. UBS Group set a $76.00 target price on shares of WSFS Financial in a research note on Monday, April 27th. Finally, 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 report on Monday, August 3rd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.07.

Insider Transactions at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction 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 represents a 26.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the transaction, the executive vice president directly owned 15,207 shares in the company, valued at $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by insiders.

WSFS Financial Trading Up 0.0%

Shares of WSFS stock opened at $81.14 on Thursday. WSFS Financial Corporation has a 1-year low of $49.92 and a 1-year high of $82.94. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 13.57 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a 50 day simple moving average of $77.60 and a 200-day simple moving average of $71.06.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. The firm had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.27 EPS. On average, equities research analysts expect that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.20 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is 13.38%.

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.