WSFS Financial Corporation (NASDAQ:WSFS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $77.0714.

WSFS has been the subject of several recent research reports. TD Cowen reaffirmed a “buy” rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. DA Davidson increased their price objective on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, UBS Group set a $76.00 price objective on WSFS Financial in a report on Monday, April 27th.

WSFS Financial Trading Down 1.5%

NASDAQ:WSFS opened at $70.36 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. WSFS Financial has a one year low of $49.92 and a one year high of $73.22. The business’s 50-day simple moving average is $69.37 and its 200 day simple moving average is $63.34. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 12.52 and a beta of 0.76.

WSFS Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial’s payout ratio is currently 14.23%.

Institutional Investors Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC lifted its holdings in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after purchasing an additional 207 shares in the last quarter. NewEdge Advisors LLC acquired a new position in WSFS Financial during the fourth quarter worth $33,000. Torren Management LLC acquired a new stake in shares of WSFS Financial in the fourth quarter valued at about $35,000. Clearstead Advisors LLC grew its position in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after purchasing an additional 489 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after buying an additional 500 shares during the period. 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.