WSFS Financial Corporation (NASDAQ:WSFS) Given Consensus Recommendation of “Hold” by Brokerages

WSFS Financial Corporation (NASDAQ:WSFS) has been given an average rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $83.0714.

WSFS has been the subject of a number of research analyst reports. UBS Group set a $76.00 price objective on WSFS Financial in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Stephens downgraded WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price target for the company. in a research report on Wednesday. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Finally, DA Davidson set a $83.00 price objective on WSFS Financial and gave the stock a “neutral” rating in a report on Monday, July 27th.

Insider Buying and Selling

In related news, EVP Shari Kruzinski sold 3,500 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the completion of the sale, the executive vice president owned 15,207 shares of the company’s stock, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. The trade was a 26.02% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WSFS Financial

A number of hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC boosted 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 purchasing an additional 207 shares during the period. NewEdge Advisors LLC acquired a new stake in WSFS Financial in the 4th quarter valued at $33,000. Torren Management LLC purchased a new position in WSFS Financial in the fourth quarter valued at about $35,000. Clearstead Advisors LLC raised its position in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after purchasing an additional 489 shares during the period. Finally, Quarry LP lifted its stake in shares of WSFS Financial by 159.7% during the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Price Performance

WSFS Financial stock opened at $81.66 on Friday. WSFS Financial has a 1 year low of $49.92 and a 1 year high of $82.94. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a 50 day moving average price of $78.01 and a 200 day moving average price of $71.30. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 13.66 and a beta of 0.77.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. The company had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. WSFS Financial’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. Sell-side analysts predict that WSFS Financial will post 6.58 earnings per share for the current year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial’s payout ratio is presently 13.38%.

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.