WSFS Financial (NASDAQ:WSFS) Price Target Raised to $55.00

WSFS Financial (NASDAQ:WSFS) had its target price hoisted by Piper Sandler from $48.00 to $55.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

A number of other research firms have also recently commented on WSFS. DA Davidson upped their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the stock a buy rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their target price on shares of WSFS Financial from $53.00 to $61.00 and gave the stock a market perform rating in a research report on Monday, July 29th. Finally, Stephens lifted their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the company an overweight rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $61.50.

WSFS Financial Stock Down 4.2 %

Shares of NASDAQ WSFS opened at $51.92 on Tuesday. The company has a market cap of $3.12 billion, a P/E ratio of 12.09 and a beta of 1.02. The firm has a 50-day simple moving average of $47.92 and a two-hundred day simple moving average of $45.22. WSFS Financial has a 1 year low of $33.12 and a 1 year high of $58.59. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.85.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, July 25th. The bank reported $1.08 earnings per share (EPS) 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 company had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $254.48 million. During the same quarter in the previous year, the business earned $1.16 EPS. WSFS Financial’s revenue was up 7.0% compared to the same quarter last year. Research analysts anticipate that WSFS Financial will post 4.31 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, August 9th. WSFS Financial’s payout ratio is 13.39%.

Insider Activity

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

Institutional Investors Weigh In On WSFS Financial

Several institutional investors have recently bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of WSFS Financial by 9.2% during the 4th quarter. Raymond James & Associates now owns 104,803 shares of the bank’s stock valued at $4,814,000 after purchasing an additional 8,796 shares during the last quarter. International Assets Investment Management LLC raised its stake in WSFS Financial by 1,032.9% in the fourth quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after buying an additional 754 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in WSFS Financial by 5.5% in 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. grew its stake in shares of WSFS Financial by 2.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,880 shares of the bank’s stock worth $1,281,000 after acquiring an additional 538 shares during 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. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.