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

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $77.0714.

WSFS has been the topic of a number of research reports. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group set a $76.00 price objective on WSFS Financial in a research report on Monday, April 27th. Stephens reiterated an “overweight” rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Finally, TD Cowen reissued a “buy” rating and set a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th.

Insiders Place Their Bets

In related news, CEO Rodger Levenson sold 65,446 shares of WSFS Financial stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of WSFS Financial

A number of institutional investors have recently bought and sold shares of WSFS. Stillwater Private Wealth LLC purchased a new stake in shares of WSFS Financial in the 1st quarter valued at about $258,000. Glenmede Trust Co. NA grew its position in WSFS Financial by 4.1% in the 1st quarter. Glenmede Trust Co. NA now owns 12,804 shares of the bank’s stock valued at $838,000 after buying an additional 503 shares during the last quarter. Bank of America Corp DE lifted its position in WSFS Financial by 11.4% in the first quarter. Bank of America Corp DE now owns 737,587 shares of the bank’s stock valued at $48,282,000 after purchasing an additional 75,283 shares during the period. California State Teachers Retirement System boosted its stake in shares of WSFS Financial by 25.5% in the first quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock valued at $4,352,000 after buying an additional 13,525 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of WSFS Financial by 50.1% during the 1st quarter. Quantinno Capital Management LP now owns 14,168 shares of the bank’s stock worth $927,000 after purchasing an additional 4,730 shares in the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Stock Down 0.7%

Shares of WSFS opened at $77.36 on Friday. The company’s 50-day simple moving average is $72.21 and its 200-day simple moving average is $65.79. 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 1 year low of $49.92 and a 1 year high of $78.39. The stock has a market capitalization of $4.03 billion, a PE ratio of 13.77 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. Investors of record on Friday, May 8th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial’s payout ratio is currently 14.23%.

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.