WSFS Financial (NASDAQ:WSFS) Price Target Raised to $67.00

WSFS Financial (NASDAQ:WSFS) had its target price lifted by Piper Sandler from $62.00 to $67.00 in a research note published on Thursday morning, Marketbeat Ratings reports. Piper Sandler currently has a neutral rating on the bank’s stock.

WSFS has been the subject of several other reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research report on Wednesday, January 21st. DA Davidson downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Stephens reissued an “overweight” rating and issued a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a report on Wednesday. Finally, TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, WSFS Financial has a consensus rating of “Moderate Buy” and an average price target of $69.00.

WSFS Financial Stock Performance

Shares of WSFS opened at $64.73 on Thursday. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 12.69 and a beta of 0.80. WSFS Financial has a 12 month low of $42.44 and a 12 month high of $65.09. The company’s fifty day moving average is $57.22 and its 200-day moving average is $55.81. 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 (NASDAQ:WSFS) last announced its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The business had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. During the same period last year, the company posted $1.11 EPS. WSFS Financial’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts expect that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, February 13th. WSFS Financial’s payout ratio is presently 13.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in WSFS Financial by 0.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after acquiring an additional 198 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in WSFS Financial by 7.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after acquiring an additional 203 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of WSFS Financial by 17.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank’s stock worth $79,000 after purchasing an additional 212 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in WSFS Financial by 7.2% in the third quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock valued at $177,000 after purchasing an additional 218 shares during the period. Finally, CWM LLC increased its stake in shares of WSFS Financial by 31.2% in the second quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after buying an additional 219 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.