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

WSFS Financial (NASDAQ:WSFS) had its target price decreased by Keefe, Bruyette & Woods from $66.00 to $64.00 in a research note released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the bank’s stock.

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

WSFS Financial Price Performance

Shares of NASDAQ WSFS opened at $51.55 on Monday. WSFS Financial has a twelve month low of $42.21 and a twelve month high of $62.75. The firm has a fifty day simple moving average of $50.70 and a 200 day simple moving average of $53.62. The company has a market capitalization of $2.99 billion, a PE ratio of 11.66 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.83 and a debt-to-equity ratio of 0.15.

WSFS Financial (NASDAQ:WSFS) last announced its 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 business had revenue of $256.11 million during the quarter, compared to the consensus estimate of $235.44 million. During the same quarter last year, the firm earned $1.11 earnings per share. WSFS Financial’s quarterly revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts forecast that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 9th will be paid a $0.17 dividend. This is an increase from WSFS Financial’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 1.32%. The ex-dividend date is Friday, May 9th. WSFS Financial’s payout ratio is 15.28%.

Insider Buying and Selling at WSFS Financial

In other news, CEO Rodger Levenson sold 7,199 shares of WSFS Financial stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $55.20, for a total transaction of $397,384.80. Following the completion of the transaction, the chief executive officer now directly owns 142,780 shares in the company, valued at $7,881,456. This trade represents a 4.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.29% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in shares of WSFS Financial by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank’s stock valued at $16,856,000 after buying an additional 10,915 shares during the last quarter. Sei Investments Co. boosted its holdings in WSFS Financial by 58.4% during the fourth quarter. Sei Investments Co. now owns 56,359 shares of the bank’s stock worth $2,994,000 after purchasing an additional 20,784 shares during the last quarter. Raymond James Financial Inc. purchased a new position in WSFS Financial during the fourth quarter worth about $18,167,000. AlphaQuest LLC purchased a new position in WSFS Financial during the fourth quarter worth about $84,000. Finally, Norges Bank purchased a new position in WSFS Financial during the fourth quarter worth about $32,775,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Company Profile

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.