WSFS Financial (NASDAQ:WSFS) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of WSFS Financial (NASDAQ:WSFS) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Stephens reissued an “overweight” rating and set a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a research note on Wednesday. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Keefe, Bruyette & Woods increased their price target on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday. DA Davidson cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

WSFS Financial Stock Up 0.0%

WSFS opened at $64.73 on Thursday. The firm has a market cap of $3.54 billion, a P/E ratio of 12.69 and a beta of 0.80. The business’s fifty day simple moving average is $57.22 and its 200 day simple moving average is $55.82. WSFS Financial has a 52 week low of $42.44 and a 52 week high of $65.09. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last released its earnings results 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. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The company had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. During the same period in the prior year, the firm earned $1.11 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.68 annualized dividend and a dividend yield of 1.1%. WSFS Financial’s payout ratio is currently 13.33%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. First Horizon Corp purchased a new stake in WSFS Financial during the third quarter valued at about $31,000. Torren Management LLC acquired a new position in shares of WSFS Financial in the 4th quarter valued at about $35,000. Quarry LP lifted its stake in shares of WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after purchasing an additional 500 shares in the last quarter. CWM LLC grew its holdings in shares of WSFS Financial by 31.2% during the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock worth $51,000 after purchasing an additional 219 shares during the period. Finally, EverSource Wealth Advisors LLC increased 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 worth $53,000 after purchasing an additional 706 shares in the last quarter. 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.