WSFS Financial (NASDAQ:WSFS) Price Target Raised to $67.00

WSFS Financial (NASDAQ:WSFS) had its price objective upped by equities researchers at Piper Sandler from $62.00 to $67.00 in a report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price would indicate a potential upside of 7.67% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. DA Davidson cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research note on Wednesday. Finally, Stephens reiterated an “overweight” rating and issued a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

WSFS Financial Stock Up 0.9%

Shares of NASDAQ WSFS opened at $62.23 on Thursday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 12.20 and a beta of 0.80. WSFS Financial has a one year low of $42.44 and a one year high of $64.11. The firm’s 50 day simple moving average is $56.83 and its two-hundred day simple moving average is $55.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The company had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.11 EPS. As a group, analysts expect that WSFS Financial will post 4.47 EPS for the current fiscal year.

Hedge Funds Weigh In On WSFS Financial

Several hedge funds have recently made changes to their positions in the business. First Horizon Corp purchased a new stake in WSFS Financial in the third quarter worth $31,000. Quarry LP raised its stake in WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after buying an additional 500 shares in the last quarter. CWM LLC lifted its holdings in WSFS Financial by 31.2% in the second quarter. CWM LLC now owns 920 shares of the bank’s stock worth $51,000 after buying an additional 219 shares during the period. EverSource Wealth Advisors LLC boosted its position in WSFS Financial by 265.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank’s stock valued at $53,000 after acquiring an additional 706 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of WSFS Financial by 618.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank’s stock worth $69,000 after acquiring an additional 1,076 shares during the period. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.