Royal Bank of Canada Sells 66,909 Shares of WSFS Financial Corporation $WSFS

Royal Bank of Canada lessened its stake in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 51.1% in the first quarter, Holdings Channel reports. The institutional investor owned 64,041 shares of the bank’s stock after selling 66,909 shares during the quarter. Royal Bank of Canada’s holdings in WSFS Financial were worth $4,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hsbc Holdings PLC bought a new position in shares of WSFS Financial in the fourth quarter valued at approximately $1,050,000. Denali Advisors LLC bought a new stake in WSFS Financial during the 4th quarter worth approximately $2,425,000. Fifth Third Bancorp increased its holdings in WSFS Financial by 11,821.6% during the 1st quarter. Fifth Third Bancorp now owns 28,731 shares of the bank’s stock worth $1,881,000 after acquiring an additional 28,490 shares during the period. Principal Financial Group Inc. lifted its stake in WSFS Financial by 64.0% in the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock worth $27,983,000 after purchasing an additional 166,837 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in WSFS Financial by 20,548.1% in the 1st quarter. Bessemer Group Inc. now owns 70,823 shares of the bank’s stock worth $4,636,000 after purchasing an additional 70,480 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

Insider Activity

In other WSFS Financial news, 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 transaction of $286,090.00. Following the completion of the transaction, the executive vice president owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This represents a 18.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rodger Levenson sold 65,446 shares of the firm’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 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

WSFS Financial Stock Performance

WSFS Financial stock opened at $81.56 on Friday. The firm has a fifty day simple moving average of $77.81 and a two-hundred day simple moving average of $71.23. 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 twelve month low of $49.92 and a twelve month high of $82.94. The company has a market capitalization of $4.17 billion, a PE ratio of 13.64 and a beta of 0.77.

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

WSFS Financial Dividend Announcement

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

Analyst Ratings Changes

WSFS has been the topic of a number of recent analyst reports. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods boosted their target price on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. DA Davidson set a $83.00 price target on WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and set a $90.00 price target (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Finally, Stephens downgraded WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target for the company. in a research report on Wednesday. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, WSFS Financial currently has an average rating of “Hold” 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.