WSFS Financial Corporation (NASDAQ:WSFS) Receives Consensus Rating of “Hold” from Analysts

WSFS Financial Corporation (NASDAQ:WSFS) has been assigned an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $83.0714.

WSFS has been the subject of several analyst reports. Piper Sandler restated a “neutral” rating and issued a $90.00 target price (up from $80.00) on shares of WSFS Financial in a research note on Monday, August 3rd. UBS Group set a $76.00 price target on shares of WSFS Financial in a research note on Monday, April 27th. TD Cowen reiterated a “buy” rating on shares of WSFS Financial in a report on Wednesday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This represents a 26.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Shari Kruzinski sold 3,500 shares of the company’s 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 completion of the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by company insiders.

Institutional Trading of WSFS Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in WSFS Financial by 102.6% in the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after acquiring an additional 5,240 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of WSFS Financial by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,176 shares during the last quarter. Millennium Management LLC increased its position in shares of WSFS Financial by 230.4% in the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock worth $3,772,000 after purchasing an additional 50,717 shares during the last quarter. United Services Automobile Association bought a new stake in shares of WSFS Financial in the 1st quarter worth about $204,000. Finally, Jane Street Group LLC raised its stake in shares of WSFS Financial by 579.0% in the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after purchasing an additional 100,171 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Up 0.1%

NASDAQ WSFS opened at $81.66 on Friday. The stock has a market cap of $4.17 billion, a PE ratio of 13.66 and a beta of 0.77. WSFS Financial has a fifty-two week low of $49.92 and a fifty-two week high of $82.94. The business has a 50 day moving average price of $78.01 and a two-hundred day moving average price of $71.30. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings data 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. The company had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. As a group, sell-side analysts predict that WSFS Financial will post 6.58 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. WSFS Financial’s dividend payout ratio is currently 13.38%.

About WSFS Financial

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.