SG Americas Securities LLC Acquires 17,110 Shares of WSFS Financial Corporation $WSFS

SG Americas Securities LLC grew its holdings in WSFS Financial Corporation (NASDAQ:WSFS) by 55.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,704 shares of the bank’s stock after purchasing an additional 17,110 shares during the period. SG Americas Securities LLC owned about 0.09% of WSFS Financial worth $3,123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in WSFS. Franklin Resources Inc. increased its stake in WSFS Financial by 1.3% in the 4th 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 period. JPMorgan Chase & Co. grew its stake in WSFS Financial by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after acquiring an additional 33,398 shares in the last quarter. Invesco Ltd. increased its position in shares of 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 acquiring an additional 60,931 shares during the period. Cooke & Bieler LP raised its stake in shares of WSFS Financial by 2.3% during the fourth quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock valued at $58,328,000 after acquiring an additional 23,946 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of WSFS Financial during the fourth quarter valued at approximately $39,193,000. 88.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WSFS. DA Davidson increased their price objective on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. TD Cowen reaffirmed 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. UBS Group set a $76.00 target price on WSFS Financial in a report on Monday, April 27th. Brean Capital began coverage on WSFS Financial in a research note on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target on the stock. Finally, Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $77.07.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS opened at $76.73 on Wednesday. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 13.65 and a beta of 0.76. WSFS Financial Corporation has a 52 week low of $49.92 and a 52 week high of $78.39. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $72.48 and a 200 day moving average of $66.15.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.20 dividend. The ex-dividend date was Friday, May 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio (DPR) is 14.23%.

Insider Activity at WSFS Financial

In other news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% 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.