WSFS Financial Corporation (NASDAQ:WSFS) Receives $65.40 Average Target Price from Brokerages

WSFS Financial Corporation (NASDAQ:WSFS) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $69.00.

Several research firms recently issued reports on WSFS. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Keefe, Bruyette & Woods upped their price objective on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research report on Wednesday. Piper Sandler boosted their price target on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th.

Institutional Trading of WSFS Financial

Several large investors have recently modified their holdings of WSFS. New York State Teachers Retirement System grew its holdings in WSFS Financial by 20.7% during the 4th quarter. New York State Teachers Retirement System now owns 29,861 shares of the bank’s stock worth $1,650,000 after acquiring an additional 5,121 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in shares of WSFS Financial by 6.3% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 40,604 shares of the bank’s stock valued at $2,243,000 after purchasing an additional 2,402 shares in the last quarter. Torren Management LLC bought a new position in shares of WSFS Financial during the fourth quarter worth about $35,000. UBS Group AG grew its stake in WSFS Financial by 31.3% in the fourth quarter. UBS Group AG now owns 214,753 shares of the bank’s stock worth $11,863,000 after purchasing an additional 51,234 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in WSFS Financial by 0.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after buying an additional 198 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Price Performance

WSFS Financial stock opened at $64.73 on Wednesday. WSFS Financial has a 52 week low of $42.44 and a 52 week high of $65.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $57.22 and its 200 day simple moving average is $55.82. The firm has a market capitalization of $3.54 billion, a PE ratio of 12.69 and a beta of 0.80.

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

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. WSFS Financial’s dividend payout ratio is presently 13.33%.

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.