Corbyn Investment Management Inc. MD Sells 11,747 Shares of WSFS Financial Corporation $WSFS

Corbyn Investment Management Inc. MD decreased its stake in WSFS Financial Corporation (NASDAQ:WSFS) by 36.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,838 shares of the bank’s stock after selling 11,747 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in WSFS Financial were worth $1,364,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WSFS. Root Financial Partners LLC increased its holdings in WSFS Financial by 92.4% in the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after acquiring an additional 207 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of WSFS Financial in the fourth quarter worth approximately $33,000. Torren Management LLC purchased a new stake in shares of WSFS Financial in the fourth quarter worth $35,000. Clearstead Advisors LLC increased its stake in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after purchasing an additional 489 shares in the last quarter. Finally, Quarry LP raised its position in shares of WSFS Financial by 159.7% during the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after purchasing an additional 500 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WSFS has been the subject of several recent analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. DA Davidson raised their price target on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Brean Capital assumed coverage on WSFS Financial in a research report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price objective on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Finally, Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.07.

Insider Buying and Selling

In related news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction 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. This represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS opened at $77.17 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market cap of $4.02 billion, a P/E ratio of 13.73 and a beta of 0.76. The firm’s fifty day moving average is $72.95 and its two-hundred day moving average is $66.57. WSFS Financial Corporation has a 52-week low of $49.92 and a 52-week high of $79.13.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.20 dividend. 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 was Friday, May 8th. WSFS Financial’s dividend payout ratio (DPR) is presently 14.23%.

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.