WSFS Financial (NASDAQ:WSFS) Sets New 12-Month High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS) shares hit a new 52-week high on Monday . The company traded as high as $75.35 and last traded at $75.76, with a volume of 452740 shares changing hands. The stock had previously closed at $75.24.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Brean Capital initiated 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. DA Davidson boosted their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. TD Cowen reaffirmed 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. Zacks Research cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, UBS Group set a $76.00 price objective on shares of WSFS Financial in a report on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $77.07.

WSFS Financial Stock Performance

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $70.79 and its 200 day moving average is $64.50. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 13.46 and a beta of 0.76.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 1.1%. WSFS Financial’s dividend payout ratio (DPR) is 14.23%.

Insider Buying and Selling at WSFS Financial

In other news, CEO Rodger Levenson sold 65,446 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the sale, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new stake in shares of WSFS Financial in the third quarter valued at $1,153,000. Quantbot Technologies LP acquired a new position in WSFS Financial in the third quarter valued at $1,169,000. Denali Advisors LLC purchased a new position in WSFS Financial during the fourth quarter worth about $2,425,000. Numerai GP LLC purchased a new position in WSFS Financial during the third quarter worth about $5,713,000. Finally, JPMorgan Chase & Co. boosted its stake in WSFS Financial by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after buying an additional 33,398 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.