Piper Sandler Raises WSFS Financial (NASDAQ:WSFS) Price Target to $55.00

WSFS Financial (NASDAQ:WSFS) had its price target increased by Piper Sandler from $48.00 to $55.00 in a report released on Tuesday, Benzinga reports. They currently have a neutral rating on the bank’s stock.

Several other research analysts have also recently issued reports on WSFS. Stephens increased their price objective on WSFS Financial from $54.00 to $62.00 and gave the stock an overweight rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $53.00 to $61.00 and gave the stock a market perform rating in a report on Monday. Finally, DA Davidson upped their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a buy rating in a report on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $61.50.

WSFS Financial Trading Down 4.1 %

WSFS opened at $54.18 on Tuesday. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 12.09 and a beta of 1.02. The stock’s 50 day moving average price is $47.71 and its 200-day moving average price is $45.16. WSFS Financial has a one year low of $33.12 and a one year high of $58.59. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 25th. The bank reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. The firm had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities analysts forecast that WSFS Financial will post 4.31 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.11%. WSFS Financial’s dividend payout ratio is presently 13.39%.

Insider Activity

In other news, EVP Stephen P. Clark sold 3,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the completion of the sale, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Stephen P. Clark sold 3,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the transaction, the executive vice president now owns 25,671 shares in the company, valued at approximately $1,196,525.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider J. Bacci Arthur 8,609 shares of the stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 1.29% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSFS. Louisiana State Employees Retirement System grew its position in WSFS Financial by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock worth $1,419,000 after purchasing an additional 200 shares during the period. Diversified Trust Co grew its position in WSFS Financial by 2.0% during the 2nd quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after purchasing an additional 225 shares during the period. GAMMA Investing LLC grew its position in WSFS Financial by 40.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock worth $48,000 after purchasing an additional 295 shares during the period. Texas Permanent School Fund Corp grew its position in WSFS Financial by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock worth $2,392,000 after purchasing an additional 518 shares during the period. Finally, Westover Capital Advisors LLC grew its position in WSFS Financial by 8.6% during the 4th quarter. Westover Capital Advisors LLC now owns 6,641 shares of the bank’s stock worth $305,000 after purchasing an additional 526 shares during the period. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.