WSFS Financial (NASDAQ:WSFS) Hits New 1-Year High – Time to Buy?

Shares of WSFS Financial Corporation (NASDAQ:WSFS) reached a new 52-week high on Wednesday . The company traded as high as $76.51 and last traded at $76.6550, with a volume of 8002 shares. The stock had previously closed at $76.00.

Wall Street Analyst Weigh In

WSFS has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. UBS Group set a $76.00 price target on shares of WSFS Financial in a research report on Monday, April 27th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Stephens reaffirmed an “overweight” rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Finally, DA Davidson lifted their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Stock Performance

The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 13.68 and a beta of 0.76. The stock’s fifty day moving average is $71.73 and its 200-day moving average is $65.41. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.20 dividend. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is presently 14.23%.

Insiders Place Their Bets

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. increased its position in shares of WSFS Financial by 1.3% during the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock worth $136,210,000 after acquiring an additional 32,423 shares in the last quarter. JPMorgan Chase & Co. lifted its position in WSFS Financial by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock valued at $83,295,000 after acquiring an additional 33,398 shares in the last quarter. Invesco Ltd. lifted its position in WSFS Financial by 6.1% in the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock valued at $58,918,000 after acquiring an additional 60,931 shares in the last quarter. Cooke & Bieler LP boosted its stake in WSFS Financial by 2.3% in the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock worth $58,328,000 after purchasing an additional 23,946 shares during the period. Finally, Bank of America Corp DE increased its holdings in WSFS Financial by 11.4% during the 1st quarter. Bank of America Corp DE now owns 737,587 shares of the bank’s stock worth $48,282,000 after purchasing an additional 75,283 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.