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

WSFS Financial Corporation (NASDAQ:WSFS) shares reached a new 52-week high on Tuesday . The stock traded as high as $66.68 and last traded at $66.36, with a volume of 663326 shares trading hands. The stock had previously closed at $64.73.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. DA Davidson lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Stephens reaffirmed an “overweight” rating and set a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Zacks Research upgraded shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Finally, Piper Sandler upped their price target on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, WSFS Financial presently has an average rating of “Moderate Buy” and an average price target of $69.00.

WSFS Financial Stock Performance

The firm has a market cap of $3.63 billion, a P/E ratio of 13.01 and a beta of 0.79. The stock’s 50 day moving average is $57.44 and its two-hundred day moving average is $55.85. 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 results on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. The firm 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 company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 earnings per share. As a group, equities analysts predict that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 13th. WSFS Financial’s payout ratio is currently 13.33%.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSFS. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of WSFS Financial by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock worth $3,782,000 after buying an additional 198 shares in the last quarter. Nisa Investment Advisors LLC grew its position in WSFS Financial by 7.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank’s stock worth $152,000 after acquiring an additional 203 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in WSFS Financial by 17.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank’s stock valued at $79,000 after purchasing an additional 212 shares in the last quarter. Smartleaf Asset Management LLC raised its position in WSFS Financial by 7.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank’s stock valued at $177,000 after purchasing an additional 218 shares during the last quarter. Finally, CWM LLC boosted its stake 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 purchasing an additional 219 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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.