Corbyn Investment Management Inc. MD Sells 409 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Corbyn Investment Management Inc. MD trimmed its position in WSFS Financial Co. (NASDAQ:WSFS) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,651 shares of the bank’s stock after selling 409 shares during the period. Corbyn Investment Management Inc. MD owned about 0.06% of WSFS Financial worth $1,629,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new position in WSFS Financial in the first quarter worth about $1,253,000. Wedge Capital Management L L P NC boosted its position in WSFS Financial by 29.2% in the second quarter. Wedge Capital Management L L P NC now owns 82,371 shares of the bank’s stock worth $3,871,000 after purchasing an additional 18,636 shares during the last quarter. Norges Bank purchased a new position in WSFS Financial in the fourth quarter worth about $31,369,000. BNP Paribas Financial Markets boosted its position in WSFS Financial by 51.4% in the first quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock worth $1,361,000 after purchasing an additional 10,234 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in WSFS Financial by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other WSFS Financial news, EVP Stephen P. Clark sold 12,663 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.29% of the company’s stock.

Wall Street Analyst Weigh In

WSFS has been the topic of several research reports. Stephens raised their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. DA Davidson lifted their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on WSFS Financial from $53.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Finally, Piper Sandler lifted their price objective on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.50.

WSFS Financial Stock Down 2.7 %

NASDAQ WSFS opened at $51.03 on Friday. The stock’s 50 day moving average is $51.93 and its 200 day moving average is $46.68. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.46. WSFS Financial Co. has a 12 month low of $33.12 and a 12 month high of $58.59. The stock has a market cap of $3.07 billion, a PE ratio of 11.39 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The business had revenue of $266.00 million for the quarter, compared to the consensus estimate of $254.48 million. During the same quarter in the previous year, the company posted $1.16 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Research analysts predict that WSFS Financial Co. will post 4.33 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Friday, August 9th. WSFS Financial’s dividend payout ratio is currently 13.39%.

WSFS Financial Profile

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.