WSFS Financial (NASDAQ:WSFS) Director Michael Donahue Sells 3,247 Shares of Stock

Key Points

• Director Michael Donahue sold 3,247 WSFS shares at an average price of $79.46, totaling approximately $258,007. The sale reduced his ownership by 22.03% to 11,495 shares.
• WSFS Financial reported quarterly EPS of $1.66, exceeding the $1.50 consensus estimate, while revenue reached $284.7 million, up 5.6% year over year.
• Analysts hold a generally neutral view, with an average rating of “Hold” and an average price target of $83.07; the company also pays a quarterly dividend of $0.20 per share, yielding about 1.0%.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) Director Michael Donahue sold 3,247 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the sale, the director owned 11,495 shares of the company's stock, valued at $913,392.70. This trade represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS traded down $0.34 during midday trading on Friday, reaching $79.60. 43,525 shares of the company's stock traded hands, compared to its average volume of 426,228. WSFS Financial Corporation has a 1 year low of $49.92 and a 1 year high of $82.94. The company has a market cap of $4.07 billion, a P/E ratio of 13.32 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The company has a fifty day simple moving average of $79.48 and a two-hundred day simple moving average of $73.04.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, topping the consensus estimate of $1.50 by $0.16. The company had revenue of $284.70 million during 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 revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.27 EPS. Equities analysts predict that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial's payout ratio is currently 13.38%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WSFS shares. Piper Sandler reaffirmed a "neutral" rating and issued a $90.00 price target (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Weiss Ratings raised WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, August 31st. DA Davidson set a $83.00 target price on WSFS Financial and gave the company a "neutral" rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods lifted their price target on WSFS Financial from $83.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Finally, TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, WSFS Financial currently has an average rating of "Hold" and an average price target of $83.07.

Institutional Trading of WSFS Financial

Several large investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of WSFS Financial during the 2nd quarter worth approximately $576,695,000. California State Teachers Retirement System lifted its position in WSFS Financial by 6,712.7% during the second quarter. California State Teachers Retirement System now owns 4,529,142 shares of the bank's stock worth $347,521,000 after buying an additional 4,462,661 shares in the last quarter. Franklin Resources Inc. boosted its stake in WSFS Financial by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank's stock worth $136,210,000 after buying an additional 32,423 shares during the last quarter. Invesco Ltd. boosted its stake in WSFS Financial by 6.1% during the fourth quarter. Invesco Ltd. now owns 1,066,591 shares of the bank's stock worth $58,918,000 after buying an additional 60,931 shares during the last quarter. Finally, Cooke & Bieler LP grew its holdings in WSFS Financial by 2.3% in the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank's stock valued at $58,328,000 after buying an additional 23,946 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company's stock.

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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