Stephens Lowers WSFS Financial (NASDAQ:WSFS) Price Target to $52.00

WSFS Financial (NASDAQ:WSFSGet Rating) had its target price dropped by equities research analysts at Stephens from $53.00 to $52.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Stephens’ price target would suggest a potential upside of 23.99% from the stock’s previous close.

WSFS has been the topic of several other research reports. Piper Sandler upgraded WSFS Financial from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $56.00 to $51.00 in a report on Monday. StockNews.com started coverage on WSFS Financial in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded WSFS Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $54.40.

Shares of NASDAQ:WSFS opened at $41.94 on Monday. The business’s 50 day simple moving average is $47.95 and its two-hundred day simple moving average is $51.02. The firm has a market cap of $2.66 billion, a P/E ratio of 9.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.71 and a current ratio of 0.72. WSFS Financial has a 52-week low of $40.70 and a 52-week high of $56.30.

WSFS Financial (NASDAQ:WSFSGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The bank reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.03). WSFS Financial had a return on equity of 12.84% and a net margin of 31.02%. During the same period in the prior year, the business posted $1.39 earnings per share. On average, equities analysts forecast that WSFS Financial will post 3.8 earnings per share for the current fiscal year.

In related news, Director Francis J. Leto sold 18,980 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $51.49, for a total transaction of $977,280.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Wright sold 1,973 shares of the stock in a transaction that occurred on Tuesday, April 19th. The shares were sold at an average price of $42.03, for a total value of $82,925.19. Following the sale, the executive vice president now directly owns 42,196 shares of the company’s stock, valued at $1,773,497.88. The disclosure for this sale can be found here. Insiders have sold 28,292 shares of company stock valued at $1,441,706 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in WSFS Financial by 0.5% during the third quarter. Invesco Ltd. now owns 1,317,601 shares of the bank’s stock valued at $67,605,000 after purchasing an additional 6,502 shares during the period. Balyasny Asset Management LLC grew its holdings in WSFS Financial by 175.8% during the third quarter. Balyasny Asset Management LLC now owns 23,640 shares of the bank’s stock valued at $1,213,000 after purchasing an additional 15,070 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in WSFS Financial by 235.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 27,524 shares of the bank’s stock valued at $1,411,000 after purchasing an additional 19,324 shares during the period. Rothschild & Co. Asset Management US Inc. grew its holdings in WSFS Financial by 18.4% during the third quarter. Rothschild & Co. Asset Management US Inc. now owns 58,054 shares of the bank’s stock valued at $2,979,000 after purchasing an additional 9,027 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in WSFS Financial by 10.5% during the third quarter. PNC Financial Services Group Inc. now owns 19,071 shares of the bank’s stock valued at $979,000 after purchasing an additional 1,812 shares during the period. 91.03% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Company Profile (Get Rating)

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.

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