Stephens Boosts WSFS Financial (NASDAQ:WSFS) Price Target to $62.00

WSFS Financial (NASDAQ:WSFS) had its price target hoisted by Stephens from $54.00 to $62.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Separately, Piper Sandler lifted their price target on WSFS Financial from $45.00 to $48.00 and gave the stock a neutral rating in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $61.50.

WSFS Financial Stock Down 0.3 %

WSFS Financial stock opened at $56.49 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.85. The company’s 50-day moving average is $47.48 and its 200-day moving average is $45.08. The firm has a market capitalization of $3.39 billion, a PE ratio of 12.61 and a beta of 1.02. WSFS Financial has a fifty-two week low of $33.12 and a fifty-two week high of $58.59.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The business had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. During the same quarter in the prior year, the business earned $1.16 EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts anticipate that WSFS Financial will post 4.25 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, August 9th. WSFS Financial’s dividend payout ratio (DPR) is presently 13.39%.

Insiders Place Their Bets

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $46.61, for a total value of $139,830.00. Following the sale, the executive vice president now owns 25,671 shares in the company, valued at $1,196,525.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Stephen P. Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the transaction, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,196,525.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider J. Bacci Arthur 8,609 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in WSFS Financial by 9.2% in the fourth quarter. Raymond James & Associates now owns 104,803 shares of the bank’s stock worth $4,814,000 after purchasing an additional 8,796 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of WSFS Financial by 1,032.9% during the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after acquiring an additional 754 shares during the period. New York State Teachers Retirement System boosted its stake in WSFS Financial by 5.5% during the fourth quarter. New York State Teachers Retirement System now owns 28,115 shares of the bank’s stock worth $1,291,000 after acquiring an additional 1,475 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in WSFS Financial by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,880 shares of the bank’s stock valued at $1,281,000 after purchasing an additional 538 shares in the last quarter. Finally, Wakefield Asset Management LLLP acquired a new position in shares of WSFS Financial during the fourth quarter valued at about $939,000. 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.