Oliver Luxxe Assets LLC Has $1.76 Million Stock Holdings in WSFS Financial Corporation $WSFS

Oliver Luxxe Assets LLC decreased its stake in WSFS Financial Corporation (NASDAQ:WSFS) by 33.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 22,921 shares of the bank’s stock after selling 11,507 shares during the period. Oliver Luxxe Assets LLC’s holdings in WSFS Financial were worth $1,759,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Tudor Investment Corp ET AL bought a new position in WSFS Financial during the 3rd quarter worth approximately $1,153,000. Denali Advisors LLC bought a new stake in shares of WSFS Financial in the 4th quarter valued at $2,425,000. Hsbc Holdings PLC acquired a new stake in shares of WSFS Financial during the fourth quarter worth $1,050,000. Fifth Third Bancorp increased its position in shares of WSFS Financial by 11,821.6% during the first quarter. Fifth Third Bancorp now owns 28,731 shares of the bank’s stock worth $1,881,000 after buying an additional 28,490 shares during the period. Finally, California State Teachers Retirement System raised its stake in WSFS Financial by 25.5% during the first quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock worth $4,352,000 after buying an additional 13,525 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Price Performance

WSFS Financial stock opened at $81.27 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 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 $82.94. The firm’s fifty day moving average is $76.98 and its 200 day moving average is $70.59. The company has a market capitalization of $4.15 billion, a PE ratio of 13.59 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The business had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.41 million. During the same period last year, the company posted $1.27 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts predict that WSFS Financial Corporation will post 6.58 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. WSFS Financial’s dividend payout ratio is 13.38%.

Insider Transactions at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at $13,790,981.68. The trade was a 26.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WSFS. DA Davidson set a $83.00 target price on shares of WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 27th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their price objective on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.07.

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.