WSFS Financial’s (WSFS) Hold Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their hold rating on shares of WSFS Financial (NASDAQ:WSFS) in a research note released on Wednesday morning, MarketBeat Ratings reports. They currently have a $62.00 target price on the bank’s stock.

Other research analysts have also recently issued reports about the stock. TD Cowen started coverage on shares of WSFS Financial in a report on Thursday, September 25th. They issued a “buy” rating and a $67.00 target price for the company. Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, October 8th. Finally, DA Davidson downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.40.

WSFS Financial Stock Down 0.9%

WSFS stock opened at $57.41 on Wednesday. The business has a 50 day moving average of $54.68 and a 200 day moving average of $55.23. The firm has a market cap of $3.14 billion, a PE ratio of 11.84 and a beta of 0.83. WSFS Financial has a twelve month low of $42.44 and a twelve month high of $59.67. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.09.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Tuesday, May 3rd. The bank reported $1.39 EPS for the quarter. The firm had revenue of $161.68 million for the quarter. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%. On average, research analysts forecast that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 7th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, November 7th. WSFS Financial’s dividend payout ratio (DPR) is 14.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WSFS. Tudor Investment Corp ET AL bought a new stake in shares of WSFS Financial during the 3rd quarter valued at about $1,153,000. JPMorgan Chase & Co. boosted its holdings in shares of WSFS Financial by 2.2% in the third quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after buying an additional 33,398 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in WSFS Financial during the third quarter valued at approximately $322,000. Wilmington Savings Fund Society FSB increased its holdings in WSFS Financial by 46.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 89,669 shares of the bank’s stock valued at $4,836,000 after buying an additional 28,471 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its position in WSFS Financial by 1.2% in the third quarter. CANADA LIFE ASSURANCE Co now owns 57,066 shares of the bank’s stock worth $3,096,000 after acquiring an additional 687 shares during the period. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the bank holding company for WSFS Bank, a regional financial institution headquartered in Wilmington, Delaware. The company traces its roots to the Safe Deposit & Trust Company, founded in 1832, and formally organized as WSFS Financial in the mid-1980s. Over its long history, WSFS has grown through a combination of organic expansion and selective acquisitions to serve a broad base of individual, commercial and institutional clients.

WSFS Bank offers a full suite of banking and financial services, including retail and commercial deposit accounts, commercial and industrial lending, real estate financing, and treasury management solutions.