WSFS Financial (NASDAQ:WSFS) Price Target Raised to $89.00

WSFS Financial (NASDAQ:WSFS) had its target price upped by Keefe, Bruyette & Woods from $83.00 to $89.00 in a report issued on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

A number of other research analysts have also recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $87.00 price objective on shares of WSFS Financial in a research note on Monday. DA Davidson set a $83.00 target price on WSFS Financial and gave the company a “neutral” rating in a research note on Monday. UBS Group set a $76.00 target price on WSFS Financial in a report on Monday, April 27th. TD Cowen restated a “buy” rating and set a $82.00 price target (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Finally, Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, WSFS Financial presently has an average rating of “Moderate Buy” and an average target price of $81.64.

WSFS Financial Trading Down 1.4%

Shares of WSFS opened at $80.64 on Monday. WSFS Financial has a fifty-two week low of $49.92 and a fifty-two week high of $82.30. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 13.48 and a beta of 0.76. The firm has a 50 day moving average price of $75.67 and a 200-day moving average price of $69.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. The company had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.27 EPS. As a group, equities research analysts forecast that WSFS Financial will post 6.45 earnings per share for the current year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, August 7th. WSFS Financial’s dividend payout ratio is currently 13.38%.

Insider Activity

In related news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WSFS Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Root Financial Partners LLC increased its stake in shares of WSFS Financial by 92.4% during the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares during the period. NewEdge Advisors LLC bought a new position in shares of WSFS Financial during the fourth quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in WSFS Financial in the fourth quarter worth $35,000. Clearstead Advisors LLC lifted its stake in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after acquiring an additional 489 shares during the period. Finally, Quarry LP boosted its holdings in 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 acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors 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.