Healthcare of Ontario Pension Plan Trust Fund Sells 41,934 Shares of WSFS Financial Corporation $WSFS

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its WSFS Financial stake by 83.8%, selling 41,934 shares and retaining 8,078 shares valued at approximately $529,000. Institutional investors collectively own 88.49% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $81.64; recent targets range from $76 to $89, while four analysts rate the stock Buy and four rate it Hold.
• WSFS Financial exceeded quarterly expectations with EPS of $1.66 versus $1.50 estimated and revenue of $284.7 million, up 5.6% year over year. The company also declared a quarterly dividend of $0.20 per share, representing a 1.0% yield.

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 83.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,078 shares of the bank's stock after selling 41,934 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in WSFS Financial were worth $529,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WSFS. Norges Bank acquired a new position in WSFS Financial during the fourth quarter worth $39,193,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of WSFS Financial in the 1st quarter worth about $34,313,000. Goldman Sachs Group Inc. increased its position in shares of WSFS Financial by 71.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank's stock worth $25,973,000 after purchasing an additional 195,979 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of WSFS Financial by 64.0% during the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank's stock worth $27,983,000 after purchasing an additional 166,837 shares in the last quarter. Finally, Citadel Advisors LLC lifted its holdings in WSFS Financial by 1,190.1% during the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank's stock valued at $8,264,000 after purchasing an additional 141,356 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group set a $76.00 price objective on shares of WSFS Financial in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their price objective on WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Stephens restated an "overweight" rating and set a $87.00 target price on shares of WSFS Financial in a report on Monday, July 27th. Piper Sandler reaffirmed a "neutral" rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of WSFS Financial in a report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, WSFS Financial presently has an average rating of "Moderate Buy" and a consensus target price of $81.64.

Insider Transactions at WSFS Financial

In related news, EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was 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 of the company's stock, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rodger Levenson sold 65,446 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company's stock.

WSFS Financial Price Performance

WSFS stock opened at $80.20 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.85. The stock has a market capitalization of $4.17 billion, a P/E ratio of 13.41 and a beta of 0.76. WSFS Financial Corporation has a fifty-two week low of $49.92 and a fifty-two week high of $82.30. The business has a 50-day moving average of $76.00 and a 200-day moving average of $69.70.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The firm had revenue of $284.70 million for the quarter, compared to analysts' expectations of $278.41 million. During the same quarter in the previous year, the business posted $1.27 EPS. The business's quarterly revenue was up 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that WSFS Financial Corporation will post 6.51 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.80 annualized dividend and a yield of 1.0%. WSFS Financial's payout ratio is 13.38%.

WSFS Financial Company 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.

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