WSFS Financial (NASDAQ:WSFS) Price Target Raised to $70.00

WSFS Financial (NASDAQ:WSFS) had its price target boosted by investment analysts at Keefe, Bruyette & Woods from $63.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 12.49% from the company’s current price.

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

WSFS Financial Stock Up 0.9%

WSFS stock opened at $62.23 on Thursday. The stock has a market cap of $3.40 billion, a P/E ratio of 12.20 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a twelve month low of $42.44 and a twelve month high of $64.11. The company’s 50 day moving average is $56.83 and its two-hundred day moving average is $55.72.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. During the same period last year, the firm posted $1.11 EPS. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts expect that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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