WSFS Financial Corporation (NASDAQ:WSFS) Receives $66.25 Average Price Target from Brokerages

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have received an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $66.25.

Several research firms recently commented on WSFS. TD Cowen began coverage on WSFS Financial in a research note on Thursday. They issued a “buy” rating and a $67.00 target price for the company. DA Davidson upped their target price on WSFS Financial from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, July 28th.

WSFS Financial Trading Down 0.0%

WSFS opened at $55.10 on Thursday. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 12.08 and a beta of 0.91. The business’s 50 day moving average is $56.14 and its two-hundred day moving average is $53.95. WSFS Financial has a 52 week low of $42.44 and a 52 week high of $62.75. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, beating the consensus estimate of $1.13 by $0.14. The firm had revenue of $267.50 million during the quarter, compared to analyst estimates of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.08 earnings per share. On average, research analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, August 8th. This represents a $0.68 annualized dividend and a yield of 1.2%. WSFS Financial’s dividend payout ratio is currently 14.91%.

Institutional Investors Weigh In On WSFS Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSFS. Voloridge Investment Management LLC increased its stake in WSFS Financial by 4.2% during the fourth quarter. Voloridge Investment Management LLC now owns 40,308 shares of the bank’s stock worth $2,142,000 after acquiring an additional 1,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in WSFS Financial by 5.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 133,936 shares of the bank’s stock worth $7,116,000 after acquiring an additional 6,468 shares during the last quarter. Versant Capital Management Inc increased its stake in WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank’s stock worth $28,000 after acquiring an additional 252 shares during the last quarter. GAMMA Investing LLC increased its stake in WSFS Financial by 7,004.2% during the first quarter. GAMMA Investing LLC now owns 105,711 shares of the bank’s stock worth $5,483,000 after acquiring an additional 104,223 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in WSFS Financial during the first quarter worth about $456,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.