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% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,476 shares of the bank’s stock after selling 2,473 shares during the quarter. Corebridge Financial Inc. owned approximately 0.05% of WSFS Financial worth $1,672,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of WSFS Financial by 5.9% during the 3rd quarter. FMR LLC now owns 4,283 shares of the bank’s stock valued at $218,000 after acquiring an additional 239 shares during the period. BNP Paribas Financial Markets grew its holdings in WSFS Financial by 95.1% during the third quarter. BNP Paribas Financial Markets now owns 23,926 shares of the bank’s stock valued at $1,220,000 after purchasing an additional 11,660 shares during the period. Glenmede Trust Co. NA increased its position in WSFS Financial by 21.0% in the third quarter. Glenmede Trust Co. NA now owns 9,285 shares of the bank’s stock worth $473,000 after buying an additional 1,612 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of WSFS Financial during the 3rd quarter valued at $278,000. Finally, Paloma Partners Management Co bought a new position in shares of WSFS Financial during the 3rd quarter worth $366,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

Insider Buying and Selling

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

WSFS Financial Stock Up 1.0 %

Shares of NASDAQ WSFS opened at $52.67 on Thursday. The business has a 50-day simple moving average of $54.06 and a two-hundred day simple moving average of $53.95. WSFS Financial Co. has a 52 week low of $41.33 and a 52 week high of $62.75. The company has a market cap of $3.08 billion, a P/E ratio of 11.92 and a beta of 1.06. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, January 27th. The bank reported $1.11 EPS for the quarter, beating 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%. Research analysts anticipate that WSFS Financial Co. will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.15 dividend. 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 payout ratio is currently 13.57%.

Analyst Ratings Changes

WSFS has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $68.00 price objective on shares of WSFS Financial in a report on Tuesday, January 28th. Keefe, Bruyette & Woods raised their price objective on shares of WSFS Financial from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $64.75.

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.