DA Davidson Reaffirms “Neutral” Rating for WSFS Financial (NASDAQ:WSFS)

DA Davidson reissued their neutral rating on shares of WSFS Financial (NASDAQ:WSFSGet Rating) in a research report report published on Wednesday morning, PriceTargets.com reports. DA Davidson also issued estimates for WSFS Financial’s FY2023 earnings at $4.60 EPS.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded WSFS Financial from a sell rating to a hold rating in a report on Friday. Stephens dropped their price objective on WSFS Financial from $53.00 to $52.00 and set an equal weight rating for the company in a report on Monday, April 25th. Finally, Piper Sandler boosted their price objective on WSFS Financial to $58.00 and gave the company an outperform rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $55.00.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $47.72 on Wednesday. The company has a market cap of $3.02 billion, a P/E ratio of 14.37 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.76 and a current ratio of 0.77. The business’s 50 day moving average price is $41.49 and its 200-day moving average price is $45.45. WSFS Financial has a fifty-two week low of $37.03 and a fifty-two week high of $56.30.

WSFS Financial (NASDAQ:WSFSGet Rating) last released its earnings results on Monday, July 25th. The bank reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. WSFS Financial had a return on equity of 10.14% and a net margin of 23.44%. During the same quarter in the prior year, the company posted $2.00 EPS. Sell-side analysts predict that WSFS Financial will post 4.07 earnings per share for the current year.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, August 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. This is a boost from WSFS Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 4th. WSFS Financial’s dividend payout ratio is currently 15.66%.

Institutional Investors Weigh In On WSFS Financial

Several hedge funds have recently made changes to their positions in WSFS. New York State Teachers Retirement System raised its position in shares of WSFS Financial by 19.2% in the 4th quarter. New York State Teachers Retirement System now owns 28,840 shares of the bank’s stock worth $1,445,000 after acquiring an additional 4,637 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of WSFS Financial in the 4th quarter worth $979,000. Yousif Capital Management LLC bought a new position in shares of WSFS Financial in the 4th quarter worth $3,022,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of WSFS Financial by 45.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,898 shares of the bank’s stock worth $346,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Cim Investment Management Inc. raised its position in shares of WSFS Financial by 100.0% in the 4th quarter. Cim Investment Management Inc. now owns 8,172 shares of the bank’s stock worth $415,000 after acquiring an additional 4,086 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for WSFS Financial (NASDAQ:WSFS)

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