WSFS Financial (NASDAQ:WSFS) Price Target Lowered to $64.00 at Keefe, Bruyette & Woods

WSFS Financial (NASDAQ:WSFS) had its price target cut by Keefe, Bruyette & Woods from $66.00 to $64.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 23.74% from the company’s current price.

Separately, Stephens reissued an “overweight” rating and issued a $64.00 price objective on shares of WSFS Financial in a research note on Monday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, WSFS Financial currently has a consensus rating of “Hold” and a consensus target price of $62.75.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS traded up $0.06 during midday trading on Monday, reaching $51.72. 102,809 shares of the company traded hands, compared to its average volume of 327,123. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 11.70 and a beta of 0.90. The stock has a 50-day moving average price of $50.93 and a 200 day moving average price of $53.63. WSFS Financial has a 52 week low of $42.21 and a 52 week high of $62.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.09. WSFS Financial had a net margin of 18.77% and a return on equity of 10.30%. The company had revenue of $256.11 million during the quarter, compared to analyst estimates of $235.44 million. During the same period in the prior year, the business posted $1.11 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Sell-side analysts anticipate that WSFS Financial will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at WSFS Financial

In related news, CEO Rodger Levenson sold 7,199 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $55.20, for a total value of $397,384.80. Following the completion of the transaction, the chief executive officer now owns 142,780 shares in the company, valued at $7,881,456. This trade represents a 4.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of WSFS Financial by 90.0% in the 1st quarter. Versant Capital Management Inc now owns 532 shares of the bank’s stock valued at $28,000 after acquiring an additional 252 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of WSFS Financial by 2,500.0% in the fourth quarter. Farther Finance Advisors LLC now owns 572 shares of the bank’s stock worth $30,000 after buying an additional 550 shares during the period. Crowley Wealth Management Inc. purchased a new position in shares of WSFS Financial during the fourth quarter valued at $32,000. VSM Wealth Advisory LLC acquired a new position in WSFS Financial during the fourth quarter valued at $40,000. Finally, AlphaQuest LLC purchased a new stake in WSFS Financial in the 4th quarter worth about $84,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.