Piper Sandler Forecasts Strong Price Appreciation for WSFS Financial (NASDAQ:WSFS) Stock

WSFS Financial (NASDAQ:WSFS) had its price objective lifted by research analysts at Piper Sandler from $62.00 to $67.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s price objective indicates a potential upside of 3.51% from the stock’s previous close.

Several other analysts also recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Stephens restated an “overweight” rating and set a $71.00 price target (up previously from $66.00) on shares of WSFS Financial in a research report on Wednesday. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a report on Wednesday. Finally, DA Davidson lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $64.73 on Thursday. The business has a 50-day simple moving average of $57.22 and a 200 day simple moving average of $55.82. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.69 and a beta of 0.80. 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 has a one year low of $42.44 and a one year high of $65.09.

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

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of the company. First Horizon Corp bought a new position in WSFS Financial during the third quarter valued at approximately $31,000. Torren Management LLC bought a new position in WSFS Financial during the 4th quarter valued at approximately $35,000. Quarry LP raised its holdings in shares of WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring an additional 500 shares in the last quarter. 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 worth $51,000 after purchasing an additional 219 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock worth $53,000 after buying an additional 706 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors.

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.