WSFS Financial Corporation (NASDAQ:WSFS) Receives $83.07 Average Price Target from Analysts

WSFS Financial Corporation (NASDAQ:WSFS) has received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $83.0714.

WSFS has been the subject of a number of research reports. Weiss Ratings raised shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 31st. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. Finally, Stephens lowered shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a report on Wednesday, August 12th.

WSFS Financial Trading Down 1.3%

NASDAQ:WSFS opened at $79.60 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $79.76 and a 200-day simple moving average of $73.45. The company has a market capitalization of $4.07 billion, a P/E ratio of 13.31 and a beta of 0.76. WSFS Financial has a 12 month low of $49.92 and a 12 month high of $82.94.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The business had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same quarter last year, the business posted $1.27 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that WSFS Financial will post 6.58 earnings per share for the current year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a $0.20 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is 13.38%.

Insider Activity

In other news, Director Michael J. Donahue sold 3,247 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $79.46, for a total transaction of $258,006.62. Following the completion of the transaction, the director directly owned 11,495 shares of the company’s stock, valued at approximately $913,392.70. The trade was a 22.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the sale, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of WSFS. Root Financial Partners LLC raised its stake in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares in the last quarter. 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. Allworth Financial LP purchased a new position in shares of WSFS Financial in the 2nd quarter valued at about $47,000. EverSource Wealth Advisors LLC lifted its stake in WSFS Financial by 23.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock worth $63,000 after purchasing an additional 221 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in WSFS Financial during the second quarter worth approximately $64,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

About WSFS Financial

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest locally managed banks in the United States.

WSFS Bank provides consumer and commercial banking services, including checking and savings accounts, residential and commercial lending, mortgages, credit and debit cards, treasury management, and other deposit and credit products.