Clearbridge Investments LLC Sells 10,897 Shares of WSFS Financial Corporation $WSFS

Clearbridge Investments LLC decreased its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 147,697 shares of the bank’s stock after selling 10,897 shares during the quarter. Clearbridge Investments LLC owned 0.27% of WSFS Financial worth $8,159,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Torren Management LLC bought a new position in shares of WSFS Financial during the fourth quarter valued at approximately $35,000. Clearstead Advisors LLC grew its stake in shares of WSFS Financial by 167.5% during the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after buying an additional 489 shares during the last quarter. Quarry LP grew its stake in shares of WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after buying an additional 500 shares during the last quarter. First Horizon Corp grew its stake in shares of WSFS Financial by 40.1% during the fourth quarter. First Horizon Corp now owns 817 shares of the bank’s stock valued at $45,000 after buying an additional 234 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of WSFS Financial by 265.4% during the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock valued at $53,000 after buying an additional 706 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Price Performance

Shares of WSFS stock opened at $74.04 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The company’s 50-day simple moving average is $70.43 and its two-hundred day simple moving average is $64.23. The company has a market capitalization of $3.85 billion, a P/E ratio of 13.17 and a beta of 0.76. WSFS Financial Corporation has a one year low of $49.92 and a one year high of $74.69.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.20 per share. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s dividend payout ratio is presently 14.23%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WSFS. TD Cowen reiterated a “buy” rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. UBS Group set a $76.00 target price on WSFS Financial in a research report on Monday, April 27th. DA Davidson lifted their target price on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Stephens reiterated an “overweight” rating and set a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. 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 has an average rating of “Moderate Buy” and a consensus price target of $77.07.

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.