WSFS Financial (NASDAQ:WSFS) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of WSFS Financial Corporation (NASDAQ:WSFS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $55.68 and traded as high as $56.29. WSFS Financial shares last traded at $56.15, with a volume of 459,543 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on WSFS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, October 8th. TD Cowen raised their target price on WSFS Financial from $66.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 7th. Piper Sandler set a $62.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research note on Wednesday, December 17th. Finally, DA Davidson cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $65.40.

WSFS Financial Stock Performance

The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 11.58 and a beta of 0.80. 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 firm has a fifty day moving average of $55.95 and a 200 day moving average of $55.68.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.13. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%.The company had revenue of $271.98 million for the quarter, compared to analyst estimates of $269.04 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts forecast that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

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

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its position in WSFS Financial by 7.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after acquiring an additional 203 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of WSFS Financial by 17.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank’s stock valued at $79,000 after purchasing an additional 212 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of WSFS Financial by 7.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock worth $177,000 after purchasing an additional 218 shares during the period. CWM LLC raised its holdings in WSFS Financial by 31.2% in the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after buying an additional 219 shares during the period. Finally, Savant Capital LLC lifted its position in WSFS Financial by 5.1% in the third quarter. Savant Capital LLC now owns 4,580 shares of the bank’s stock valued at $247,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.