WSFS Financial (NASDAQ:WSFS) Coverage Initiated by Analysts at DA Davidson

DA Davidson began coverage on shares of WSFS Financial (NASDAQ:WSFS) in a research report report published on Wednesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $74.00 price objective on the bank’s stock.

Several other research firms have also recently weighed in on WSFS. Zacks Research upgraded shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. Stephens reissued an “overweight” rating and issued a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $69.80.

WSFS Financial Price Performance

NASDAQ WSFS opened at $66.05 on Wednesday. The stock’s 50-day moving average price is $61.19 and its two-hundred day moving average price is $57.25. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a market cap of $3.61 billion, a PE ratio of 12.95 and a beta of 0.79. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $71.32.

WSFS Financial (NASDAQ:WSFS) last announced its earnings results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping the consensus estimate of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The company had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $267.36 million. During the same period last year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts predict that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s payout ratio is presently 13.33%.

Insider Buying and Selling

In related news, EVP James J. Wechsler sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $69.89, for a total transaction of $31,450.50. Following the transaction, the executive vice president owned 5,777 shares of the company’s stock, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur J. Bacci sold 2,005 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total transaction of $141,372.55. Following the completion of the sale, the executive vice president directly owned 26,366 shares of the company’s stock, valued at $1,859,066.66. This represents a 7.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,455 shares of company stock worth $242,923. Insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its holdings in shares of WSFS Financial by 102.6% during the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after acquiring an additional 5,240 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in WSFS Financial by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,176 shares during the period. Millennium Management LLC grew its holdings in WSFS Financial by 230.4% during the first quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock valued at $3,772,000 after purchasing an additional 50,717 shares during the last quarter. United Services Automobile Association bought a new position in shares of WSFS Financial in the first quarter valued at approximately $204,000. Finally, Jane Street Group LLC lifted its stake in shares of WSFS Financial by 579.0% in the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after buying an additional 100,171 shares during the last quarter. Institutional investors and hedge funds 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.