WSFS Financial (NASDAQ:WSFS) Given New $89.00 Price Target at Keefe, Bruyette & Woods

WSFS Financial (NASDAQ:WSFS) had its price objective boosted by Keefe, Bruyette & Woods from $83.00 to $89.00 in a research note published on Monday morning,Benzinga reports. They currently have a market perform rating on the bank’s stock.

Several other analysts also recently weighed in on the stock. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the company a “neutral” rating in a research report on Monday. Piper Sandler restated a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. TD Cowen restated a “buy” rating and issued a $82.00 price target (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Stephens reaffirmed an “overweight” rating and set a $87.00 price target on shares of WSFS Financial in a report on Monday. Finally, UBS Group set a $76.00 price objective on WSFS Financial in a research report on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, WSFS Financial has an average rating of “Moderate Buy” and a consensus price target of $81.64.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $80.61 on Monday. WSFS Financial has a 1-year low of $49.92 and a 1-year high of $82.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.85. The business’s fifty day moving average price is $75.27 and its two-hundred day moving average price is $69.02. The firm has a market capitalization of $4.19 billion, a PE ratio of 13.48 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.16. The company had revenue of $284.70 million during the quarter, compared to the consensus estimate of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. On average, research analysts expect that WSFS Financial will post 6.32 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.

Insider Transactions at WSFS Financial

In other news, CEO Rodger Levenson sold 65,446 shares of WSFS Financial stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. This trade represents a 26.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in WSFS Financial by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock worth $136,210,000 after acquiring an additional 32,423 shares during the period. Invesco Ltd. lifted its holdings in WSFS Financial by 6.1% in the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock valued at $58,918,000 after acquiring an additional 60,931 shares during the last quarter. Cooke & Bieler LP lifted its holdings in WSFS Financial by 2.3% in the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock valued at $58,328,000 after acquiring an additional 23,946 shares during the last quarter. Bank of America Corp DE boosted its position in shares of WSFS Financial by 11.4% during the 1st quarter. Bank of America Corp DE now owns 737,587 shares of the bank’s stock valued at $48,282,000 after purchasing an additional 75,283 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of WSFS Financial in the 4th quarter worth approximately $39,193,000. Institutional investors and hedge funds 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.