WSFS Financial (NASDAQ:WSFS) Price Target Raised to $72.00

WSFS Financial (NASDAQ:WSFS) had its target price upped by Piper Sandler from $67.00 to $72.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

A number of other equities analysts also recently commented on the company. Stephens reissued an “overweight” rating and set a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 28th. Brean Capital began coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target for the company. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $71.42.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $66.30 on Thursday. The company has a market capitalization of $3.50 billion, a PE ratio of 13.00 and a beta of 0.75. The company has a fifty day moving average of $65.16 and a 200 day moving average of $58.65. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $71.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

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

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, February 13th. WSFS Financial’s dividend payout ratio (DPR) is 13.33%.

Insider Buying and Selling

In related news, EVP James J. Wechsler sold 450 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $69.89, for a total transaction of $31,450.50. Following the completion of the sale, the executive vice president owned 5,777 shares in the company, valued at $403,754.53. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur J. Bacci sold 2,005 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $70.51, for a total value of $141,372.55. Following the completion of the transaction, the executive vice president directly owned 26,366 shares of the company’s stock, valued at $1,859,066.66. This trade represents a 7.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,455 shares of company stock worth $242,923 over the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of WSFS. Norges Bank acquired a new stake in WSFS Financial during the 4th quarter worth $39,193,000. Goldman Sachs Group Inc. grew its holdings in shares of WSFS Financial by 71.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after buying an additional 195,979 shares during the last quarter. Citadel Advisors LLC increased its position in WSFS Financial by 1,190.1% in the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock valued at $8,264,000 after acquiring an additional 141,356 shares during the period. Cooke & Bieler LP raised its stake in WSFS Financial by 15.5% during the 3rd quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank’s stock valued at $55,653,000 after acquiring an additional 138,220 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in WSFS Financial by 14.5% during the 3rd quarter. Pzena Investment Management LLC now owns 928,413 shares of the bank’s stock valued at $50,069,000 after acquiring an additional 117,244 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.