Bessemer Group Inc. Acquires 70,480 Shares of WSFS Financial Corporation $WSFS

Bessemer Group Inc. raised its holdings in shares of WSFS Financial Corporation (NASDAQ:WSFS) by 20,548.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,823 shares of the bank’s stock after purchasing an additional 70,480 shares during the quarter. Bessemer Group Inc. owned approximately 0.14% of WSFS Financial worth $4,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC increased its holdings in shares of 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 acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $33,000. Torren Management LLC acquired a new stake in shares of WSFS Financial during the 4th quarter worth about $35,000. Clearstead Advisors LLC boosted its holdings in shares of WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after buying an additional 489 shares during the period. Finally, Quarry LP boosted its holdings in shares of WSFS Financial by 159.7% during 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 period. 88.49% of the stock is owned by institutional investors.

Insider Buying and Selling at WSFS Financial

In other 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 transaction of $4,850,203.06. Following the completion of the sale, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS opened at $78.92 on Tuesday. WSFS Financial Corporation has a 12-month low of $49.92 and a 12-month high of $80.73. The company’s 50 day moving average price is $74.34 and its two-hundred day moving average price is $68.18. The firm has a market cap of $4.11 billion, a PE ratio of 14.04 and a beta of 0.76. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial Increases Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on WSFS. Zacks Research cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group set a $76.00 price objective on WSFS Financial in a report on Monday, April 27th. DA Davidson increased their target price on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th. Finally, TD Cowen reissued a “buy” rating and set a $82.00 price target (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 issued a Hold rating to the company. According to MarketBeat.com, WSFS Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.07.

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.