WSFS Financial (NASDAQ:WSFS) Sets New 12-Month High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS)’s share price 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 traded. The stock had previously closed at $76.00.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on WSFS shares. Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. DA Davidson lifted their price objective on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen restated a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Brean Capital began coverage on shares of WSFS Financial in a research note on Tuesday, March 10th. They set a “buy” rating and a $74.50 price target on the stock. Finally, UBS Group set a $76.00 price objective on shares of WSFS Financial in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.07.

WSFS Financial Stock Up 1.0%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50 day simple moving average of $71.73 and a 200-day simple moving average of $65.41. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 13.68 and a beta of 0.76.

WSFS Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 8th. This is an increase from WSFS Financial’s previous quarterly dividend of $0.17. 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 WSFS Financial stock in a transaction 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 completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSFS. Norges Bank acquired a new position in shares of WSFS Financial during the fourth quarter worth approximately $39,193,000. Vaughan Nelson Investment Management L.P. bought a new position in WSFS Financial in the 1st quarter worth approximately $34,313,000. Goldman Sachs Group Inc. raised its position in WSFS Financial by 71.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after purchasing an additional 195,979 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in WSFS Financial by 64.0% during the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock worth $27,983,000 after buying an additional 166,837 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position in WSFS Financial by 1,190.1% in the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock valued at $8,264,000 after buying an additional 141,356 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.