WSFS Financial (NASDAQ:WSFS) Sets New 52-Week High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $73.22 and last traded at $72.51, with a volume of 15011 shares trading hands. The stock had previously closed at $71.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on WSFS shares. TD Cowen reissued a “buy” rating and set a $82.00 price target (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. DA Davidson lifted their price target on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Brean Capital started coverage on WSFS Financial in a research note on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target on the stock. Finally, Keefe, Bruyette & Woods lifted their price target on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.07.

WSFS Financial Stock Down 0.3%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $3.74 billion, a P/E ratio of 12.78 and a beta of 0.77. The stock has a 50-day moving average price of $66.84 and a 200-day moving average price of $61.21.

WSFS Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio (DPR) is currently 12.10%.

Insider Activity at WSFS Financial

In other news, EVP Arthur J. Bacci sold 2,005 shares of the firm’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 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 $1,859,066.66. This trade represents a 7.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WSFS Financial

A number of large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its holdings in shares of WSFS Financial by 11.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock valued at $88,000 after purchasing an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its position in WSFS Financial by 0.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after buying an additional 198 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in WSFS Financial by 7.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after buying an additional 203 shares during the period. Root Financial Partners LLC boosted its holdings in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after acquiring an additional 207 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in WSFS Financial by 7.2% in the third quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock worth $177,000 after acquiring an additional 218 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.