WSFS Financial (NASDAQ:WSFS) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

WSFS Financial Co. (NASDAQ:WSFS)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $53.10 and traded as high as $54.01. WSFS Financial shares last traded at $53.44, with a volume of 290,489 shares traded.

Analyst Ratings Changes

Several research analysts have recently commented on WSFS shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Janney Montgomery Scott restated a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $59.75.

WSFS Financial Price Performance

The company has a market cap of $3.19 billion, a price-to-earnings ratio of 12.36 and a beta of 1.08. The company’s 50 day moving average price is $56.20 and its 200-day moving average price is $53.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 0.86.

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

Institutional Investors Weigh In On WSFS Financial

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. increased its stake in WSFS Financial by 819.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 254,616 shares of the bank’s stock worth $13,528,000 after purchasing an additional 226,933 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of WSFS Financial by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,903,255 shares of the bank’s stock worth $183,450,000 after acquiring an additional 110,279 shares in the last quarter. State Street Corp raised its holdings in shares of WSFS Financial by 3.0% during the third quarter. State Street Corp now owns 3,030,372 shares of the bank’s stock valued at $154,519,000 after acquiring an additional 87,781 shares during the period. Barclays PLC lifted its position in shares of WSFS Financial by 110.8% in the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank’s stock valued at $6,139,000 after acquiring an additional 63,284 shares in the last quarter. Finally, Royce & Associates LP boosted its stake in WSFS Financial by 247.4% in the 3rd quarter. Royce & Associates LP now owns 78,168 shares of the bank’s stock worth $3,986,000 after purchasing an additional 55,668 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.