WSFS Financial Corporation $WSFS Stake Lessened by Brown Advisory Inc.

Key Points

• Brown Advisory reduced its stake in WSFS Financial by 5.1% in the fourth quarter, though it still held 788,575 shares worth about $43.6 million at the end of the period.
• WSFS CEO Rodger Levenson sold 65,446 shares on June 10 for about $4.85 million, cutting his personal stake by roughly 26%.
• The company recently raised its quarterly dividend to $0.20 per share from $0.17, and analysts currently view the stock as a Moderate Buy with a consensus price target of $77.07.

Brown Advisory Inc. cut its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 788,575 shares of the bank's stock after selling 42,813 shares during the period. Brown Advisory Inc. owned approximately 1.44% of WSFS Financial worth $43,561,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Kestra Advisory Services LLC boosted its holdings in shares of WSFS Financial by 10.7% in the fourth quarter. Kestra Advisory Services LLC now owns 4,839 shares of the bank's stock valued at $267,000 after acquiring an additional 469 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of WSFS Financial by 11.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank's stock valued at $88,000 after acquiring an additional 163 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of WSFS Financial by 8.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,534 shares of the bank's stock valued at $197,000 after acquiring an additional 271 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of WSFS Financial by 3.3% in the fourth quarter. First Trust Advisors LP now owns 90,910 shares of the bank's stock valued at $5,022,000 after acquiring an additional 2,915 shares in the last quarter. Finally, Ieq Capital LLC boosted its holdings in shares of WSFS Financial by 149.5% in the fourth quarter. Ieq Capital LLC now owns 10,825 shares of the bank's stock valued at $598,000 after acquiring an additional 6,487 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Insider Activity at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company's stock.

WSFS Financial Stock Down 1.4%

Shares of NASDAQ:WSFS opened at $74.17 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $3.86 billion, a PE ratio of 13.20 and a beta of 0.76. WSFS Financial Corporation has a 52 week low of $49.92 and a 52 week high of $76.37. The firm has a 50 day simple moving average of $70.95 and a 200 day simple moving average of $64.63.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.20 dividend. This is a boost from WSFS Financial's previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. WSFS Financial's payout ratio is currently 14.23%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WSFS. Piper Sandler reiterated a "neutral" rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Stephens reiterated an "overweight" rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. TD Cowen reissued a "buy" rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. DA Davidson increased their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Finally, Brean Capital assumed coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They set a "buy" rating and a $74.50 target price for the company. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, WSFS Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.07.

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.

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