WSFS Financial (NASDAQ:WSFS) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• WSFS Financial shares moved above their 200-day moving average, closing near $77.79 after trading as high as $78.01, which may signal improving technical momentum.
• Wall Street sentiment is mixed but constructive: the stock has a Moderate Buy consensus rating with a consensus price target of $77.07, close to the current share price.
• The company raised its quarterly dividend to $0.20 per share from $0.17, while CEO Rodger Levenson sold 65,446 shares in June, a transaction worth about $4.85 million.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $67.39 and traded as high as $78.01. WSFS Financial shares last traded at $77.79, with a volume of 471,195 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WSFS. Piper Sandler reissued a "neutral" rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. UBS Group set a $76.00 price target on WSFS Financial in a research report on Monday, April 27th. Stephens reiterated an "overweight" rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. DA Davidson lifted their price objective on WSFS Financial from $70.00 to $76.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of WSFS Financial in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $77.07.

WSFS Financial Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $73.61 and its 200-day moving average price is $67.39. The stock has a market capitalization of $4.05 billion, a PE ratio of 13.84 and a beta of 0.76.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.20 per share. 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 dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 8th. WSFS Financial's payout ratio is presently 14.23%.

Insider Activity at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 186,088 shares of the company's stock, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On WSFS Financial

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in shares of WSFS Financial by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank's stock valued at $136,210,000 after acquiring an additional 32,423 shares in the last quarter. JPMorgan Chase & Co. grew its stake in WSFS Financial by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank's stock worth $83,295,000 after purchasing an additional 33,398 shares in the last quarter. Invesco Ltd. increased its holdings in WSFS Financial by 6.1% during the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank's stock worth $58,918,000 after purchasing an additional 60,931 shares during the period. Cooke & Bieler LP increased its holdings in WSFS Financial by 2.3% during the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank's stock worth $58,328,000 after purchasing an additional 23,946 shares during the period. Finally, Bank of America Corp DE raised its position in WSFS Financial by 11.4% during the 1st quarter. Bank of America Corp DE now owns 737,587 shares of the bank's stock valued at $48,282,000 after purchasing an additional 75,283 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

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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