WSFS Financial Corporation (NASDAQ:WSFS) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $70.5833.

Several equities research analysts have recently weighed in on WSFS shares. DA Davidson started coverage on WSFS Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $74.00 price target on the stock. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Brean Capital started coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective for the company. Piper Sandler upped their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, Zacks Research upgraded shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th.

Insider Activity at WSFS Financial

In related news, EVP Arthur J. Bacci sold 2,005 shares of WSFS Financial stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.51, for a total transaction of $141,372.55. Following the completion of the sale, the executive vice president owned 26,366 shares of the company’s stock, valued at approximately $1,859,066.66. This trade 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 the SEC website. Also, EVP James J. Wechsler sold 450 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 5,777 shares in the company, valued at approximately $403,754.53. The trade was a 7.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 3,455 shares of company stock valued at $242,923. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of the company. First Horizon Corp bought a new position in WSFS Financial during the 3rd quarter worth approximately $31,000. NewEdge Advisors LLC purchased a new position in WSFS Financial in the 4th quarter worth approximately $33,000. Torren Management LLC bought a new stake in WSFS Financial in the fourth quarter valued at approximately $35,000. Clearstead Advisors LLC lifted its position in WSFS Financial by 167.5% in 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 boosted its stake in shares of 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 currently owned by institutional investors.

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $62.40 on Thursday. The stock has a market cap of $3.29 billion, a PE ratio of 12.24 and a beta of 0.76. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $71.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a fifty day moving average of $63.30 and a 200-day moving average of $57.99.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The business had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. During the same quarter in the prior year, the firm posted $1.11 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that WSFS Financial will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, February 13th. WSFS Financial’s dividend payout ratio (DPR) is 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.