Bessemer Group Inc. Has $4.64 Million Position in WSFS Financial Corporation $WSFS

Bessemer Group Inc. lifted its position in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 20,548.1% in the first quarter, HoldingsChannel.com reports. The fund owned 70,823 shares of the bank’s stock after buying an additional 70,480 shares during the period. Bessemer Group Inc.’s holdings in WSFS Financial were worth $4,636,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. AQR Capital Management LLC raised its position in WSFS Financial by 102.6% during the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after purchasing an additional 5,240 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of WSFS Financial by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after purchasing an additional 1,176 shares in the last quarter. Millennium Management LLC increased its stake in shares of WSFS Financial by 230.4% in the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock valued at $3,772,000 after purchasing an additional 50,717 shares during the last quarter. United Services Automobile Association bought a new position in shares of WSFS Financial in the 1st quarter valued at $204,000. Finally, Jane Street Group LLC raised its holdings in shares of WSFS Financial by 579.0% during the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after buying an additional 100,171 shares in the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the subject of several recent analyst reports. UBS Group set a $76.00 price objective 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 company a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Stephens reissued an “overweight” rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Finally, Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note 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, the company has a consensus rating of “Moderate Buy” and an average price target of $77.07.

Insider Transactions at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

WSFS Financial Price Performance

Shares of WSFS opened at $78.92 on Tuesday. 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 stock has a market cap of $4.11 billion, a PE ratio of 14.04 and a beta of 0.76. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $80.73. The business has a 50-day simple moving average of $74.34 and a two-hundred day simple moving average of $68.18.

WSFS Financial Increases Dividend

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

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.