WSFS Financial Corporation $WSFS Stock Position Cut by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its position in WSFS by 2.9% in Q4 and now holds 5,956,546 shares (about 10.89% of the company) worth roughly $329.0 million.
• WSFS raised its quarterly dividend to $0.20 from $0.17 (annualized $0.80) with an ex-dividend date of May 8 and payment on May 22, implying a yield of about 1.1%.
• Analysts have bumped up targets recently and the consensus rating is a "Moderate Buy" with a collective price target around $77.07 (several firms raised individual targets into the $76–$82 range).

Vanguard Group Inc. lessened its stake in WSFS Financial Corporation (NASDAQ:WSFS - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,956,546 shares of the bank's stock after selling 176,995 shares during the period. Vanguard Group Inc. owned 10.89% of WSFS Financial worth $329,040,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bryn Mawr Trust Advisors LLC acquired a new stake in WSFS Financial in the 3rd quarter valued at about $1,051,000. Tudor Investment Corp ET AL acquired a new stake in WSFS Financial in the 3rd quarter valued at about $1,153,000. Quantbot Technologies LP acquired a new stake in WSFS Financial in the 3rd quarter valued at about $1,169,000. Wilmington Savings Fund Society FSB lifted its holdings in WSFS Financial by 46.5% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 89,669 shares of the bank's stock valued at $4,836,000 after acquiring an additional 28,471 shares during the last quarter. Finally, Numerai GP LLC acquired a new stake in WSFS Financial in the 3rd quarter valued at about $5,713,000. 88.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Arthur J. Bacci sold 2,005 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the transaction, the executive vice president owned 26,366 shares in the company, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

WSFS Financial Price Performance

NASDAQ WSFS opened at $72.06 on Friday. The company has a 50 day simple moving average of $66.84 and a 200-day simple moving average of $61.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 12.82 and a beta of 0.77. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $73.22.

WSFS Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be issued a $0.20 dividend. This is an increase from WSFS Financial's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, May 8th. WSFS Financial's dividend payout ratio is currently 12.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WSFS shares. TD Cowen reissued a "buy" rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Stephens reissued an "overweight" rating and issued a $81.00 price target (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Piper Sandler reissued a "neutral" rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday. UBS Group set a $76.00 price target on shares of WSFS Financial in a report on Monday, April 27th. Finally, DA Davidson upped their price objective 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. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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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