WSFS Financial Corporation (NASDAQ:WSFS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $77.0714.

Several research firms have commented on WSFS. UBS Group set a $76.00 price target on WSFS Financial in a report on Monday, April 27th. Piper Sandler reissued a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Stephens reaffirmed an “overweight” rating and set a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. DA Davidson boosted their target price on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of WSFS Financial in a report on Friday, June 12th.

Insider Buying and Selling

In other news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer owned 186,088 shares in the company, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC lifted its position in WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock worth $28,000 after buying an additional 207 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in WSFS Financial in the 4th quarter valued at about $33,000. Torren Management LLC acquired a new stake in WSFS Financial in the 4th quarter valued at about $35,000. Clearstead Advisors LLC raised its stake in shares of WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after acquiring an additional 489 shares during the last quarter. Finally, Quarry LP raised its stake in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after acquiring an additional 500 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Stock Performance

NASDAQ:WSFS opened at $79.46 on Wednesday. The firm’s 50-day moving average is $74.52 and its 200-day moving average is $68.35. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 14.14 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. WSFS Financial has a 52-week low of $49.92 and a 52-week high of $80.73.

WSFS Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 8th. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s dividend payout ratio is presently 14.23%.

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.