Y Intercept Hong Kong Ltd Cuts Position in WSFS Financial Corporation $WSFS

Y Intercept Hong Kong Ltd trimmed its stake in WSFS Financial Corporation (NASDAQ:WSFS) by 89.7% in the 1st quarter, HoldingsChannel reports. The fund owned 4,296 shares of the bank’s stock after selling 37,479 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in WSFS Financial were worth $281,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC grew its stake in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after purchasing an additional 207 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial during the fourth quarter valued at about $33,000. Torren Management LLC bought a new stake in shares of WSFS Financial in the 4th quarter valued at about $35,000. Clearstead Advisors LLC boosted its holdings in shares of WSFS Financial by 167.5% in the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after buying an additional 489 shares in the last quarter. Finally, Quarry LP grew its position in shares of WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after buying an additional 500 shares during the last quarter. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

WSFS Financial Trading Up 0.6%

Shares of 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. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $79.13. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 13.91 and a beta of 0.76. The firm’s 50 day simple moving average is $73.85 and its two-hundred day simple moving average is $67.69.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a dividend of $0.20 per share. 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. The ex-dividend date of this dividend was Friday, May 8th. WSFS Financial’s dividend payout ratio is presently 14.23%.

Analysts Set New Price Targets

Several research analysts recently commented on WSFS shares. Stephens reiterated an “overweight” rating and set a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. DA Davidson raised their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. UBS Group set a $76.00 price target on shares of WSFS Financial in a report on Monday, April 27th. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Finally, TD Cowen reiterated a “buy” rating and set a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, WSFS Financial has a consensus rating of “Moderate Buy” and an average target price of $77.07.

Insider Buying and Selling at WSFS Financial

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

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.