Bryn Mawr Trust Advisors LLC Cuts Stock Position in WSFS Financial Corporation $WSFS

Bryn Mawr Trust Advisors LLC trimmed its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 50.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,663 shares of the bank’s stock after selling 8,846 shares during the quarter. Bryn Mawr Trust Advisors LLC’s holdings in WSFS Financial were worth $567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $39,193,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of WSFS Financial during the first quarter valued at approximately $34,313,000. Goldman Sachs Group Inc. raised its holdings in shares of WSFS Financial by 71.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock valued at $25,973,000 after acquiring an additional 195,979 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of WSFS Financial by 64.0% in the first quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock valued at $27,983,000 after acquiring an additional 166,837 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of WSFS Financial by 1,190.1% in the third quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock valued at $8,264,000 after acquiring an additional 141,356 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Price Performance

WSFS Financial stock opened at $78.17 on Thursday. 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 stock has a market cap of $4.07 billion, a P/E ratio of 13.91 and a beta of 0.76. The company has a 50-day moving average price of $73.85 and a 200 day moving average price of $67.69. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $79.13.

WSFS Financial Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Zacks Research downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. DA Davidson upped their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. TD Cowen reiterated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.07.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction dated Wednesday, June 10th. The shares were 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 owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.

WSFS Financial 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.