DA Davidson Begins Coverage on WSFS Financial (NASDAQ:WSFS)

Equities research analysts at DA Davidson started coverage on shares of WSFS Financial (NASDAQ:WSFS) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $74.00 price target on the bank’s stock. DA Davidson’s target price indicates a potential upside of 11.48% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Stephens reaffirmed 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, January 28th. Piper Sandler raised their target price on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Zacks Research raised shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Finally, TD Cowen restated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. One equities research 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.80.

WSFS Financial Stock Performance

Shares of WSFS opened at $66.38 on Wednesday. The firm has a market capitalization of $3.63 billion, a PE ratio of 13.02 and a beta of 0.79. 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 has a 50-day moving average price of $61.36 and a 200 day moving average price of $57.31. WSFS Financial has a 52-week low of $42.44 and a 52-week high of $71.32.

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

Insider Activity

In other WSFS Financial news, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $70.10, for a total transaction of $70,100.00. Following the transaction, the executive vice president owned 14,740 shares of the company’s stock, valued at $1,033,274. The trade was a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Arthur J. Bacci sold 2,005 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $70.51, for a total value of $141,372.55. Following the completion of the transaction, the executive vice president owned 26,366 shares in the company, valued at $1,859,066.66. This represents a 7.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,455 shares of company stock worth $242,923. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its position in shares of WSFS Financial by 11.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock valued at $88,000 after acquiring an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of WSFS Financial by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock worth $3,782,000 after buying an additional 198 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of WSFS Financial by 7.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after acquiring an additional 203 shares in the last quarter. Smartleaf Asset Management LLC grew its position in WSFS Financial by 7.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock worth $177,000 after acquiring an additional 218 shares during the last quarter. Finally, CWM LLC grew its position in WSFS Financial by 31.2% during the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock worth $51,000 after acquiring an additional 219 shares during the last quarter. 88.49% of the stock is 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.