WSFS Financial (NASDAQ:WSFS) Price Target Increased to $62.00 by Analysts at Stephens

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

Separately, Piper Sandler increased their price target on shares of WSFS Financial from $45.00 to $48.00 and gave the company a neutral rating in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $61.50.

WSFS Financial Price Performance

Shares of WSFS Financial stock opened at $54.18 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. WSFS Financial has a fifty-two week low of $33.12 and a fifty-two week high of $58.59. The firm has a fifty day moving average price of $47.71 and a two-hundred day moving average price of $45.16. The company has a market cap of $3.26 billion, a PE ratio of 12.09 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last issued 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 net margin of 20.04% and a return on equity of 11.47%. The firm had revenue of $266.00 million during the quarter, compared to the consensus estimate of $254.48 million. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was up 7.0% on a year-over-year basis. Analysts expect that WSFS Financial will post 4.31 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, August 9th. WSFS Financial’s dividend payout ratio is 13.39%.

Insider Activity

In other news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Stephen P. Clark sold 12,663 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total transaction of $715,712.76. Following the sale, the executive vice president now owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. The disclosure for this sale can be found here. Corporate insiders own 1.29% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

A number of hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its position in shares of WSFS Financial by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock worth $1,419,000 after purchasing an additional 200 shares in the last quarter. Diversified Trust Co increased its position in shares of WSFS Financial by 2.0% during the 2nd quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after purchasing an additional 225 shares in the last quarter. GAMMA Investing LLC increased its position in shares of WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares in the last quarter. Texas Permanent School Fund Corp increased its position in shares of WSFS Financial by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock worth $2,392,000 after purchasing an additional 518 shares in the last quarter. Finally, Westover Capital Advisors LLC increased its position in shares of WSFS Financial by 8.6% during the 4th quarter. Westover Capital Advisors LLC now owns 6,641 shares of the bank’s stock worth $305,000 after purchasing an additional 526 shares in the last quarter. Institutional investors and hedge funds 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.