WSFS Financial (NASDAQ:WSFS) Price Target Raised to $67.00 at Piper Sandler

WSFS Financial (NASDAQ:WSFS) had its price objective hoisted by Piper Sandler from $62.00 to $67.00 in a research report report published on Thursday morning, MarketBeat.com reports. They currently have a neutral rating on the bank’s stock.

WSFS has been the topic of several other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Stephens restated an “overweight” rating and issued a $71.00 price target (up previously from $66.00) on shares of WSFS Financial in a research report on Wednesday. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research report on Wednesday. Finally, DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $69.00.

WSFS Financial Trading Up 4.0%

WSFS Financial stock opened at $64.72 on Thursday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 12.69 and a beta of 0.80. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $64.75. The firm’s 50 day moving average price is $57.04 and its two-hundred day moving average price is $55.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. The business had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. On average, research analysts predict that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.33%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. First Horizon Corp acquired a new stake in shares of WSFS Financial during the 3rd quarter valued at about $31,000. Quarry LP raised its position in WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring an additional 500 shares in the last quarter. CWM LLC raised its position in WSFS Financial by 31.2% during the second quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after acquiring an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after acquiring an additional 706 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in WSFS Financial by 618.4% in the second quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank’s stock worth $69,000 after acquiring an additional 1,076 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

About WSFS Financial

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.