WSFS Financial (NASDAQ:WSFS) Reaches New 1-Year High – Still a Buy?

Shares of WSFS Financial Co. (NASDAQ:WSFS) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $60.59 and last traded at $60.48, with a volume of 254881 shares trading hands. The stock had previously closed at $58.71.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $54.00 price objective (down previously from $58.00) on shares of WSFS Financial in a research report on Tuesday, October 29th. Janney Montgomery Scott reiterated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Piper Sandler boosted their price target on WSFS Financial from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. DA Davidson boosted their price objective on WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Stephens boosted their price target on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $59.75.

WSFS Financial Stock Up 3.0 %

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $52.25 and a two-hundred day simple moving average of $50.02. The stock has a market capitalization of $3.56 billion, a P/E ratio of 13.71 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for the quarter, compared to analysts’ expectations of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Equities research analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. WSFS Financial’s payout ratio is 13.70%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Barclays PLC grew its position in shares of WSFS Financial by 110.8% during the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank’s stock worth $6,139,000 after buying an additional 63,284 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in WSFS Financial in the third quarter valued at about $235,000. Jane Street Group LLC grew its position in shares of WSFS Financial by 47.9% during the 3rd quarter. Jane Street Group LLC now owns 114,154 shares of the bank’s stock worth $5,821,000 after buying an additional 36,990 shares during the period. Weiss Asset Management LP acquired a new stake in shares of WSFS Financial in the 3rd quarter valued at approximately $932,000. Finally, State Street Corp raised its holdings in WSFS Financial by 3.0% in the third quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock worth $154,519,000 after purchasing an additional 87,781 shares during the period. Institutional investors and hedge funds 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.