Brokerages Set WSFS Financial Corporation (NASDAQ:WSFS) PT at $70.58

WSFS Financial Corporation (NASDAQ:WSFS) has received an average recommendation of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $70.5833.

Several brokerages have commented on WSFS. Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Brean Capital started coverage on WSFS Financial in a research report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective on the stock. DA Davidson started coverage on WSFS Financial in a research note on Wednesday, February 25th. They issued a “neutral” rating and a $74.00 price objective on the stock. Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 28th.

WSFS Financial Stock Up 0.3%

Shares of NASDAQ:WSFS opened at $64.86 on Thursday. The firm has a market capitalization of $3.42 billion, a PE ratio of 12.72 and a beta of 0.76. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $71.32. 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 firm’s 50-day moving average is $64.08 and its two-hundred day moving average is $58.21.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Monday, January 26th. The bank reported $1.43 EPS for the quarter, beating the consensus estimate of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The business had revenue of $90.08 million during the quarter, compared to analyst estimates of $267.36 million. During the same quarter last year, the firm posted $1.11 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

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

Insider Buying and Selling

In other WSFS Financial news, EVP Shari Kruzinski sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $70.10, for a total transaction of $70,100.00. Following the completion of the transaction, the executive vice president owned 14,740 shares in the company, valued at $1,033,274. The trade was a 6.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James J. Wechsler sold 450 shares of the stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $69.89, for a total transaction 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. This represents a 7.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,455 shares of company stock worth $242,923. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently modified their holdings of WSFS. First Horizon Corp acquired a new stake in WSFS Financial in the third quarter valued at $31,000. NewEdge Advisors LLC purchased a new stake in WSFS Financial during the 4th quarter worth about $33,000. Torren Management LLC acquired a new position in shares of WSFS Financial during the 4th quarter worth about $35,000. Clearstead Advisors LLC boosted its position in shares of WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after acquiring an additional 489 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring an additional 500 shares during the last quarter. 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.