TD Cowen Forecasts Strong Price Appreciation for WSFS Financial (NASDAQ:WSFS) Stock

WSFS Financial (NASDAQ:WSFS) had its price target raised by analysts at TD Cowen from $66.00 to $67.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. TD Cowen’s target price would suggest a potential upside of 17.15% from the company’s previous close.

A number of other research analysts also recently weighed in on the stock. Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday. Piper Sandler set a $62.00 price objective on WSFS Financial and gave the company a “neutral” rating in a report on Wednesday, December 17th. DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, WSFS Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.40.

WSFS Financial Trading Up 1.3%

Shares of WSFS Financial stock opened at $57.19 on Wednesday. The firm has a market cap of $3.13 billion, a PE ratio of 11.79 and a beta of 0.80. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $59.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a fifty day moving average price of $55.69 and a 200-day moving average price of $55.63.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share for the quarter. WSFS Financial had a net margin of 20.44% and a return on equity of 10.60%. The company had revenue of $161.68 million for the quarter. Equities research analysts anticipate that WSFS Financial will post 4.47 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. First Horizon Corp purchased a new position in WSFS Financial during the 3rd quarter valued at about $31,000. Quarry LP boosted its stake in WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after acquiring an additional 500 shares in the last quarter. CWM LLC boosted its position in shares of WSFS Financial by 31.2% in the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock worth $51,000 after purchasing an additional 219 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after acquiring an additional 706 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of WSFS Financial by 618.4% in the second quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank’s stock worth $69,000 after acquiring an additional 1,076 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

About WSFS Financial

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.