WSFS Financial (NASDAQ:WSFS) Upgraded at Zacks Research

Zacks Research upgraded shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. TD Cowen restated a “buy” rating on shares of WSFS Financial in a report on Wednesday. Piper Sandler increased their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday. Stephens reiterated an “overweight” rating and set a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research note on Wednesday. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, DA Davidson cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, WSFS Financial has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

WSFS Financial Trading Up 0.0%

Shares of WSFS stock opened at $64.73 on Thursday. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $65.09. The company has a 50 day moving average price of $57.22 and a 200 day moving average price of $55.81. The stock has a market capitalization of $3.54 billion, a P/E ratio of 12.69 and a beta of 0.80. 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 released its earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping the consensus estimate of $1.26 by $0.17. The firm had revenue of $90.08 million during 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%.WSFS Financial’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 EPS. Equities research analysts predict that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

Institutional Investors Weigh In On WSFS Financial

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

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.