WSFS Financial’s (WSFS) “Neutral” Rating Reaffirmed at Piper Sandler

WSFS Financial (NASDAQ:WSFS)‘s stock had its “neutral” rating reiterated by equities researchers at Piper Sandler in a research report issued on Monday,Benzinga reports. They presently have a $90.00 price target on the bank’s stock, up from their previous price target of $80.00. Piper Sandler’s price objective points to a potential upside of 10.86% from the company’s current price.

Several other equities analysts also recently commented on WSFS. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research note on Wednesday. Keefe, Bruyette & Woods boosted their price target on shares of WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a research report on Monday, April 27th. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Stephens reiterated an “overweight” rating and set a $87.00 target price on shares of WSFS Financial in a research note on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, WSFS Financial presently has an average rating of “Moderate Buy” and a consensus price target of $83.07.

WSFS Financial Trading Up 1.2%

WSFS Financial stock traded up $0.98 during midday trading on Monday, reaching $81.19. 77,529 shares of the stock traded hands, compared to its average volume of 444,874. The firm has a market cap of $4.22 billion, a PE ratio of 13.56 and a beta of 0.76. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a 50-day simple moving average of $76.00 and a two-hundred day simple moving average of $69.70. WSFS Financial has a 12-month low of $49.92 and a 12-month high of $82.30.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The business had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same quarter last year, the firm posted $1.27 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. Research analysts expect that WSFS Financial will post 6.51 earnings per share for the current fiscal year.

Insider Buying and Selling at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the sale, the executive vice president directly owned 15,207 shares in the company, valued at $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rodger Levenson sold 65,446 shares of the company’s 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 sale, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Institutional Trading of WSFS Financial

Several hedge funds and other institutional investors have recently bought and sold shares of WSFS. Root Financial Partners LLC lifted its stake in shares of WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after purchasing an additional 207 shares during the period. NewEdge Advisors LLC acquired a new position in WSFS Financial in the fourth quarter valued at $33,000. Torren Management LLC purchased a new position in WSFS Financial during the fourth quarter worth about $35,000. Clearstead Advisors LLC boosted its stake in WSFS Financial by 167.5% in the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after buying an additional 489 shares during the last quarter. Finally, Quarry LP boosted its stake in WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after buying an additional 500 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.