WSFS Financial Corporation (NASDAQ:WSFS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have been assigned an average rating of “Moderate Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $69.00.

A number of brokerages have recently commented on WSFS. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a report on Thursday, January 29th. Stephens reaffirmed an “overweight” rating and set a $71.00 target price (up previously from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. Finally, Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th.

Insider Buying and Selling

In other news, EVP Arthur J. Bacci sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 in the company, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James J. Wechsler sold 450 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $69.89, for a total value of $31,450.50. Following the completion of the transaction, the executive vice president directly owned 5,777 shares in the company, valued at $403,754.53. This trade represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,455 shares of company stock worth $242,923 in the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

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

WSFS Financial Stock Up 1.5%

NASDAQ WSFS opened at $67.66 on Friday. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $71.32. The stock has a market capitalization of $3.70 billion, a PE ratio of 13.27 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The business’s 50-day moving average is $60.71 and its 200 day moving average is $57.00.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. The firm 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 10.89% and a net margin of 21.14%.The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $1.11 EPS. Sell-side analysts forecast that WSFS Financial will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. WSFS Financial’s payout ratio is currently 13.33%.

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.