WSFS Financial (NASDAQ:WSFS) Upgraded at DA Davidson

DA Davidson upgraded shares of WSFS Financial (NASDAQ:WSFS) to a hold rating in a report released on Tuesday,Zacks.com reports.

WSFS has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, January 29th. Stephens reissued an “overweight” rating and issued a $71.00 target price (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. Zacks Research upgraded shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.80.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $66.38 on Tuesday. The firm has a market cap of $3.63 billion, a P/E ratio of 13.02 and a beta of 0.79. WSFS Financial has a 52-week low of $42.44 and a 52-week high of $71.32. The business’s 50-day moving average price is $61.36 and its 200 day moving average price is $57.31. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.17. The company had revenue of $90.08 million for 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%.The company’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $1.11 EPS. On average, equities research analysts expect that WSFS Financial will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. WSFS Financial’s dividend payout ratio (DPR) is 13.33%.

Insider Activity at WSFS Financial

In related news, EVP Arthur J. Bacci sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the sale, the executive vice president owned 26,366 shares of the company’s stock, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Shari Kruzinski sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the transaction, the executive vice president directly 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 disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,455 shares of company stock valued at $242,923. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of WSFS Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Corp acquired a new stake in WSFS Financial in the 3rd quarter valued at $31,000. NewEdge Advisors LLC acquired a new position in WSFS Financial during the 4th quarter worth approximately $33,000. Torren Management LLC purchased a new position in WSFS Financial in the 4th quarter worth approximately $35,000. Clearstead Advisors LLC grew its position in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after acquiring an additional 489 shares in the last quarter. Finally, Quarry LP raised its stake in shares of 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 purchasing an additional 500 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Company Profile

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.