WSFS Financial (NASDAQ:WSFS) Reaches New 1-Year High – Time to Buy?

Shares of WSFS Financial Co. (NASDAQ:WSFS) hit a new 52-week high during trading on Friday . The company traded as high as $60.59 and last traded at $60.48, with a volume of 254881 shares traded. The stock had previously closed at $58.71.

Analyst Ratings Changes

WSFS has been the subject of a number of research reports. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research report on Monday, October 28th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Piper Sandler raised their target price on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. DA Davidson raised their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, Stephens raised their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market cap of $3.56 billion, a P/E ratio of 13.81 and a beta of 1.02. The company has a fifty day moving average price of $52.42 and a two-hundred day moving average price of $50.12.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.02. WSFS Financial had a return on equity of 10.56% and a net margin of 18.78%. The business had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. During the same quarter in the previous year, the business posted $1.23 EPS. WSFS Financial’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts anticipate that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, November 8th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.70%.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of WSFS. Vanguard Group Inc. lifted its holdings in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock valued at $331,246,000 after purchasing an additional 372,402 shares in the last quarter. American Century Companies Inc. lifted its stake in WSFS Financial by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 877,467 shares of the bank’s stock valued at $41,241,000 after acquiring an additional 191,566 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in WSFS Financial by 2.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock valued at $183,450,000 after acquiring an additional 110,279 shares in the last quarter. State Street Corp lifted its stake in WSFS Financial by 3.0% in the 3rd quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after acquiring an additional 87,781 shares in the last quarter. Finally, Denali Advisors LLC bought a new stake in WSFS Financial in the 2nd quarter valued at approximately $3,436,000. Institutional investors own 88.49% of the company’s stock.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.