Piper Sandler Boosts WSFS Financial (NASDAQ:WSFS) Price Target to $72.00

WSFS Financial (NASDAQ:WSFS) had its price objective upped by equities researchers at Piper Sandler from $67.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective would suggest a potential upside of 8.60% from the company’s previous close.

Several other research analysts have also issued reports on WSFS. Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 28th. DA Davidson began coverage on shares of WSFS Financial in a report on Wednesday, February 25th. They set a “neutral” rating and a $74.00 target price for the company. Finally, Brean Capital initiated coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 target price for the company. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.42.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $66.30 on Thursday. WSFS Financial has a 12-month low of $42.44 and a 12-month high of $71.32. The stock’s fifty day simple moving average is $65.16 and its two-hundred day simple moving average is $58.62. The stock has a market capitalization of $3.50 billion, a PE ratio of 13.00 and a beta of 0.75. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.17. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The company had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that WSFS Financial will post 4.47 EPS for the current fiscal year.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Arthur J. Bacci sold 2,005 shares of the 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 sale, the executive vice president owned 26,366 shares in the company, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shari Kruzinski sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $70.10, for a total value of $70,100.00. Following the completion of the sale, the executive vice president directly owned 14,740 shares of the company’s stock, valued at approximately $1,033,274. This represents a 6.35% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,455 shares of company stock valued at $242,923. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Several hedge funds have recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its position in WSFS Financial by 11.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after acquiring an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in WSFS Financial by 0.3% in 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. Nisa Investment Advisors LLC grew its holdings in shares of WSFS Financial by 7.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock valued at $152,000 after purchasing an additional 203 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 buying an additional 218 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in WSFS Financial by 23.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock worth $63,000 after buying an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.