WSFS Financial (NASDAQ:WSFS) Stock Price Target Lowered at TD Cowen

WSFS Financial (NASDAQ:WSFS) had its target price lowered by TD Cowen from $92.00 to $89.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

Other research analysts have also recently issued research reports about the company. DA Davidson set a $83.00 price objective on WSFS Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Piper Sandler reiterated a “neutral” rating and set a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Stephens cut shares of WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target for the company. in a research report on Wednesday, August 12th. Weiss Ratings upgraded shares of WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, August 31st. Finally, Keefe, Bruyette & Woods increased their price objective on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.07.

WSFS Financial Stock Down 0.9%

WSFS Financial stock opened at $77.34 on Monday. WSFS Financial has a twelve month low of $49.92 and a twelve month high of $82.94. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The company has a 50 day moving average of $79.35 and a 200-day moving average of $74.71. The stock has a market capitalization of $3.95 billion, a PE ratio of 12.93 and a beta of 0.84.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The business had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.41 million. During the same quarter in the previous year, the business earned $1.27 earnings per share. WSFS Financial’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts anticipate that WSFS Financial will post 6.57 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were 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 was Friday, August 7th. WSFS Financial’s dividend payout ratio (DPR) is currently 13.38%.

Insider Activity

In related news, Director Michael J. Donahue sold 3,247 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following the transaction, the director owned 11,495 shares of the company’s stock, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This trade represents a 18.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Root Financial Partners LLC lifted its stake in WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after acquiring an additional 207 shares in the last quarter. Allworth Financial LP purchased a new position in WSFS Financial in the second quarter valued at approximately $47,000. Public Employees Retirement System of Ohio bought a new position in shares of WSFS Financial during the 2nd quarter worth $64,000. Global Retirement Partners LLC purchased a new position in shares of WSFS Financial in the second quarter worth about $140,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in WSFS Financial in the 4th quarter valued at approximately $106,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

About WSFS Financial

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS provides a range of banking services for consumers, businesses, and institutions, including checking and savings accounts, residential and commercial lending, mortgages, credit cards, treasury management, and digital banking.