WSFS Financial Corporation (NASDAQ:WSFS) Stock Has Average Target Price of $83.07 According to Analysts

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have received a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $84.07.

Several research analysts recently commented on the company. TD Cowen dropped their price target on WSFS Financial from $92.00 to $89.00 and set a “buy” rating for the company in a research report on Monday, October 5th. Weiss Ratings upgraded shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 31st. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price for the company. in a research report on Wednesday, August 12th. Finally, DA Davidson set a $83.00 target price on WSFS Financial and gave the stock a “neutral” rating in a report on Monday, July 27th.

WSFS Financial Price Performance

Shares of WSFS stock opened at $75.39 on Monday. The company’s fifty day simple moving average is $78.93 and its two-hundred day simple moving average is $75.05. WSFS Financial has a 52 week low of $49.92 and a 52 week high of $82.94. The stock has a market cap of $3.85 billion, a P/E ratio of 12.61 and a beta of 0.84. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $278.41 million. During the same quarter last year, the business posted $1.27 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. Analysts predict that WSFS Financial will post 6.59 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s dividend payout ratio is currently 13.38%.

Insiders Place Their Bets

In other WSFS Financial news, Director Michael J. Donahue sold 3,247 shares of WSFS Financial stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president owned 15,207 shares in the company, valued at approximately $1,243,020.18. This trade represents a 18.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in WSFS Financial in the second quarter valued at approximately $576,695,000. Franklin Resources Inc. grew its holdings in shares of WSFS Financial by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock worth $136,210,000 after buying an additional 32,423 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in WSFS Financial in the 2nd quarter valued at about $68,174,000. Bank of America Corp DE increased its holdings in shares of WSFS Financial by 11.4% in the first quarter. Bank of America Corp DE now owns 737,587 shares of the bank’s stock valued at $48,282,000 after purchasing an additional 75,283 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of WSFS Financial in the 4th quarter worth $39,193,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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 and largest locally managed banks in the Delaware Valley.

WSFS provides a range of banking services for consumers, businesses, and institutions, including checking and savings accounts, residential and commercial lending, mortgages, credit cards, treasury management, and digital banking.