WSFS Financial (NASDAQ:WSFS) Raised to Strong-Buy at Zacks Research

WSFS Financial (NASDAQ:WSFS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. Piper Sandler boosted their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research report on Wednesday. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Stephens restated an “overweight” rating and set a $71.00 price target (up from $66.00) on shares of WSFS Financial in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

WSFS Financial Price Performance

Shares of NASDAQ:WSFS opened at $64.73 on Thursday. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 12.69 and a beta of 0.80. The business has a 50 day moving average price of $57.22 and a 200 day moving average price of $55.82. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a twelve month low of $42.44 and a twelve month high of $65.09.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly 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 return on equity of 10.89% and a net margin of 21.14%.The company had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. During the same period in the previous year, the business posted $1.11 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Research analysts predict that WSFS Financial will post 4.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WSFS. AQR Capital Management LLC lifted its holdings in WSFS Financial by 102.6% in the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after buying an additional 5,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of WSFS Financial by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after acquiring an additional 1,176 shares during the last quarter. Millennium Management LLC lifted its stake in shares of WSFS Financial by 230.4% in the 1st 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 period. United Services Automobile Association acquired a new position in shares of WSFS Financial in the 1st quarter valued at $204,000. Finally, Jane Street Group LLC boosted its position in shares of WSFS Financial by 579.0% in the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after purchasing an additional 100,171 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.