Corebridge Financial Inc. Sells 2,473 Shares of WSFS Financial Co. (NASDAQ:WSFS)

Corebridge Financial Inc. lowered its stake in shares of WSFS Financial Co. (NASDAQ:WSFS) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,476 shares of the bank’s stock after selling 2,473 shares during the quarter. Corebridge Financial Inc.’s holdings in WSFS Financial were worth $1,672,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in WSFS Financial by 2,500.0% during the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock valued at $30,000 after purchasing an additional 550 shares in the last quarter. Crowley Wealth Management Inc. purchased a new position in shares of WSFS Financial during the 4th quarter valued at about $32,000. VSM Wealth Advisory LLC purchased a new stake in WSFS Financial in the fourth quarter worth approximately $40,000. AlphaQuest LLC bought a new position in WSFS Financial during the fourth quarter valued at approximately $84,000. Finally, KBC Group NV raised its stake in shares of WSFS Financial by 68.4% during the fourth quarter. KBC Group NV now owns 2,885 shares of the bank’s stock worth $153,000 after acquiring an additional 1,172 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Trading Up 1.0 %

NASDAQ:WSFS opened at $52.67 on Thursday. The firm has a market capitalization of $3.08 billion, a P/E ratio of 11.92 and a beta of 1.06. WSFS Financial Co. has a 52 week low of $41.33 and a 52 week high of $62.75. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $54.06 and a 200 day moving average of $53.95.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, January 27th. The bank reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. On average, research analysts predict that WSFS Financial Co. will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.60 annualized dividend and a dividend yield of 1.14%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.57%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Stephens reaffirmed an “overweight” rating and set a $68.00 target price on shares of WSFS Financial in a report on Tuesday, January 28th. Keefe, Bruyette & Woods lifted their price objective on WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Three equities research 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 company has a consensus rating of “Hold” and an average price target of $64.75.

Insider Activity at WSFS Financial

In related news, CEO Rodger Levenson sold 7,199 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the transaction, the chief executive officer now owns 142,780 shares in the company, valued at $7,881,456. The trade was a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.29% of the stock is owned by corporate insiders.

About WSFS Financial

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.