WSFS Financial (NASDAQ:WSFS) Given New $76.00 Price Target at DA Davidson

WSFS Financial (NASDAQ:WSFS) had its price objective hoisted by DA Davidson from $70.00 to $76.00 in a research report released on Monday morning,Benzinga reports. DA Davidson currently has a neutral rating on the bank’s stock.

Other research analysts have also issued reports about the company. UBS Group set a $76.00 target price on WSFS Financial in a research report on Monday. Piper Sandler increased their target price on WSFS Financial from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Thursday, April 2nd. 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 raised their price objective on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.79.

WSFS Financial Price Performance

WSFS stock opened at $71.64 on Monday. WSFS Financial has a 52-week low of $49.92 and a 52-week high of $72.84. The stock’s fifty day simple moving average is $66.18 and its 200-day simple moving average is $60.38. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 12.75 and a beta of 0.75.

WSFS Financial (NASDAQ:WSFS) last issued its 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 business had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. WSFS Financial had a return on equity of 11.23% and a net margin of 22.55%.The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $1.11 EPS. Equities research analysts expect that WSFS Financial will post 5.9 EPS for the current year.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Friday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 1.1%. WSFS Financial’s dividend payout ratio is presently 14.23%.

Insider Buying and Selling at WSFS Financial

In other WSFS Financial news, EVP Arthur J. Bacci sold 2,005 shares of the company’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James J. Wechsler sold 450 shares of WSFS Financial stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $69.89, for a total transaction of $31,450.50. Following the transaction, the executive vice president owned 5,777 shares in the company, valued at approximately $403,754.53. The trade was a 7.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 3,455 shares of company stock valued at $242,923. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

Hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC increased its stake in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after acquiring an additional 207 shares during the last quarter. First Horizon Corp bought a new stake in WSFS Financial in the third quarter worth $31,000. NewEdge Advisors LLC bought a new stake in WSFS Financial in the fourth quarter worth $33,000. Torren Management LLC bought a new stake in WSFS Financial in the fourth quarter worth $35,000. Finally, Clearstead Advisors LLC boosted its holdings in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after purchasing an additional 489 shares in the last quarter. 88.49% of the stock is owned by institutional investors and hedge funds.

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.