Keefe, Bruyette & Woods Issues Positive Forecast for WSFS Financial (NASDAQ:WSFS) Stock Price

WSFS Financial (NASDAQ:WSFS) had its price target hoisted by Keefe, Bruyette & Woods from $63.00 to $70.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

Other equities analysts also recently issued reports about the stock. DA Davidson downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Piper Sandler boosted their price target on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday. Stephens reaffirmed an “overweight” rating and issued a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research report on Wednesday. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.00.

WSFS Financial Stock Performance

Shares of WSFS opened at $64.72 on Thursday. The firm has a market capitalization of $3.54 billion, a P/E ratio of 12.69 and a beta of 0.80. WSFS Financial has a 52 week low of $42.44 and a 52 week high of $64.75. The stock has a 50 day moving average price of $57.04 and a two-hundred day moving average price of $55.78. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last announced 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 analysts’ expectations of $267.36 million. During the same quarter in the previous year, the firm earned $1.11 earnings per share. WSFS Financial’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.17 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. WSFS Financial’s payout ratio is presently 13.33%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in WSFS. AQR Capital Management LLC raised its stake in WSFS Financial by 102.6% in the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after acquiring an additional 5,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of WSFS Financial by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after purchasing an additional 1,176 shares during the period. Millennium Management LLC raised its position in shares of WSFS Financial by 230.4% in the first quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock valued at $3,772,000 after purchasing an additional 50,717 shares during the period. United Services Automobile Association purchased a new stake in shares of WSFS Financial during the 1st quarter valued at approximately $204,000. Finally, Jane Street Group LLC boosted its holdings in WSFS Financial by 579.0% in the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after buying an additional 100,171 shares during the period. Institutional investors own 88.49% of the company’s stock.

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.