WSFS Financial (NASDAQ:WSFS) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of WSFS Financial Corporation (NASDAQ:WSFS) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $58.26 and traded as high as $65.35. WSFS Financial shares last traded at $65.20, with a volume of 316,199 shares.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. DA Davidson started coverage on shares of WSFS Financial in a research report on Wednesday, February 25th. They set a “neutral” rating and a $74.00 price objective on the stock. Keefe, Bruyette & Woods lifted their target price on shares of WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Stephens reissued an “overweight” rating and set a $71.00 price target (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. Brean Capital began coverage on WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target on the stock. Finally, Piper Sandler lifted their price objective on WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $70.58.

WSFS Financial Stock Performance

The business’s fifty day moving average is $64.38 and its 200-day moving average is $58.30. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.35 billion, a PE ratio of 12.44 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last announced 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. The business had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 earnings per share. As a group, research analysts predict that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, February 13th. WSFS Financial’s payout ratio is currently 13.33%.

Insiders Place Their Bets

In other WSFS Financial news, EVP James J. Wechsler sold 450 shares of the firm’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 transaction of $31,450.50. Following the sale, the executive vice president owned 5,777 shares in the company, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial 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 transaction, the executive vice president directly owned 14,740 shares in the company, valued at $1,033,274. This represents a 6.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,455 shares of company stock worth $242,923 over the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of WSFS Financial

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new position in WSFS Financial in the 4th quarter worth $39,193,000. Goldman Sachs Group Inc. lifted its position in shares of WSFS Financial by 71.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock valued at $25,973,000 after acquiring an additional 195,979 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of WSFS Financial in the second quarter valued at about $8,834,000. Citadel Advisors LLC boosted its stake in shares of WSFS Financial by 1,190.1% in the third quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock worth $8,264,000 after acquiring an additional 141,356 shares during the period. Finally, Cooke & Bieler LP grew its position in shares of WSFS Financial by 15.5% during the third quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank’s stock worth $55,653,000 after purchasing an additional 138,220 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

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.