Citigroup Inc. Sells 34,310 Shares of WSFS Financial Corporation $WSFS

Key Points

• Citigroup cut its WSFS stake by 36.9%, selling 34,310 shares and reducing its holding to 58,681 shares worth roughly $3.17 million (about 0.11% of the company).
• Other institutions are adding exposure—most notably Norges Bank initiated a new position of about $36.9 million—and institutional investors now own 88.49% of WSFS stock.
• WSFS recently beat EPS estimates ($1.43 vs. $1.26), trades at a P/E of 12.6 with a $3.39 billion market cap, and pays a $0.17 quarterly dividend (≈1.1% yield, 13.3% payout ratio).

Citigroup Inc. decreased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 36.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,681 shares of the bank's stock after selling 34,310 shares during the quarter. Citigroup Inc. owned approximately 0.11% of WSFS Financial worth $3,165,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WSFS. Norges Bank bought a new position in WSFS Financial during the second quarter valued at about $36,860,000. Edgestream Partners L.P. acquired a new position in shares of WSFS Financial during the 2nd quarter valued at about $8,834,000. Cooke & Bieler LP raised its stake in shares of WSFS Financial by 15.5% in the 3rd quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank's stock valued at $55,653,000 after acquiring an additional 138,220 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in WSFS Financial by 14.5% in the 3rd quarter. Pzena Investment Management LLC now owns 928,413 shares of the bank's stock worth $50,069,000 after purchasing an additional 117,244 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in WSFS Financial by 31.6% during the second quarter. Raymond James Financial Inc. now owns 441,671 shares of the bank's stock worth $24,292,000 after purchasing an additional 105,983 shares during the period. Institutional investors and hedge funds own 88.49% of the company's stock.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $64.25 on Friday. The company's fifty day moving average is $62.08 and its two-hundred day moving average is $57.64. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of 12.60 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. WSFS Financial Corporation has a 52-week low of $42.44 and a 52-week high of $71.32.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.17. The business had revenue of $90.08 million during the quarter, compared to analysts' expectations of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.11 earnings per share. Equities research analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, February 13th. WSFS Financial's dividend payout ratio is presently 13.33%.

Analyst Ratings Changes

A number of equities analysts have recently commented on WSFS shares. Weiss Ratings reissued a "buy (b-)" rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Piper Sandler lifted their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, January 29th. Zacks Research raised shares of WSFS Financial from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 29th. Stephens reiterated an "overweight" rating and issued a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. Finally, DA Davidson started coverage on WSFS Financial in a research report on Wednesday, February 25th. They set a "neutral" rating and a $74.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.80.

Insider Buying and Selling

In other news, EVP James J. Wechsler sold 450 shares of the stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $69.89, for a total value of $31,450.50. Following the completion of the transaction, the executive vice president owned 5,777 shares in the company, valued at approximately $403,754.53. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur J. Bacci sold 2,005 shares of WSFS Financial stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $70.51, for a total transaction of $141,372.55. Following the sale, the executive vice president owned 26,366 shares in the company, valued at approximately $1,859,066.66. This trade represents a 7.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,455 shares of company stock valued at $242,923 over the last ninety days. 1.10% of the stock is owned by company insiders.

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.

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