Insider Selling: WSFS Financial (NASDAQ:WSFS) EVP Sells 3,500 Shares of Stock

Key Points

• WSFS Financial EVP Shari Kruzinski sold 3,500 shares at an average price of $81.74, totaling $286,090 and reducing her ownership by 18.71% to 15,207 shares.
• WSFS shares recently traded at $80.34, near their 52-week high of $82.30. The bank reported quarterly EPS of $1.66, beating estimates by $0.16, while revenue rose 5.6% year over year to $284.7 million.
• The company declared a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 payout and a 1.0% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $81.64.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the transaction, the executive vice president owned 15,207 shares in the company, valued at $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

WSFS Financial Trading Down 0.4%

Shares of WSFS traded down $0.30 during mid-day trading on Thursday, reaching $80.34. The company's stock had a trading volume of 121,514 shares, compared to its average volume of 446,434. WSFS Financial Corporation has a 52 week low of $49.92 and a 52 week high of $82.30. The stock has a market cap of $4.18 billion, a PE ratio of 13.43 and a beta of 0.76. The company's fifty day moving average price is $75.67 and its two-hundred day moving average price is $69.36. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

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. The company had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 EPS. On average, analysts predict that WSFS Financial Corporation will post 6.45 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued 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 payout ratio is currently 13.38%.

Hedge Funds Weigh In On WSFS Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new position in WSFS Financial in the 2nd quarter worth about $1,384,000. Baron Wealth Management LLC bought a new stake in WSFS Financial during the 2nd quarter valued at about $216,000. GAMMA Investing LLC raised its holdings in WSFS Financial by 11.9% in the second quarter. GAMMA Investing LLC now owns 2,414 shares of the bank's stock worth $185,000 after buying an additional 256 shares during the last quarter. Stillwater Private Wealth LLC purchased a new position in WSFS Financial in the first quarter worth about $258,000. Finally, Glenmede Trust Co. NA lifted its stake in shares of WSFS Financial by 4.1% in the first quarter. Glenmede Trust Co. NA now owns 12,804 shares of the bank's stock worth $838,000 after buying an additional 503 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WSFS has been the topic of several recent research reports. DA Davidson set a $83.00 price target on WSFS Financial and gave the stock a "neutral" rating in a research report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of WSFS Financial in a research report on Friday, June 12th. TD Cowen reissued a "buy" rating on shares of WSFS Financial in a research note on Wednesday. UBS Group set a $76.00 price target on shares of WSFS Financial in a report on Monday, April 27th. Finally, Piper Sandler reissued a "neutral" rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.64.

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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