WSFS Financial Corporation (NASDAQ:WSFS) Given Average Recommendation of “Moderate Buy” by Brokerages

WSFS Financial Corporation (NASDAQ:WSFS) has received an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $77.0714.

Several equities analysts have recently issued reports on WSFS shares. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. Brean Capital started coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target for the company. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a research report on Monday, April 27th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th.

Institutional Investors Weigh In On WSFS Financial

Several institutional investors have recently added to or reduced their stakes in WSFS. AQR Capital Management LLC lifted its position in WSFS Financial by 102.6% in the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after acquiring an additional 5,240 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in WSFS Financial by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after acquiring an additional 1,176 shares in the last quarter. Millennium Management LLC lifted its position in WSFS Financial by 230.4% during the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock worth $3,772,000 after buying an additional 50,717 shares in the last quarter. United Services Automobile Association acquired a new position in shares of WSFS Financial during the 1st quarter worth about $204,000. Finally, Jane Street Group LLC boosted its stake in shares of WSFS Financial by 579.0% during the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock worth $6,093,000 after buying an additional 100,171 shares during the last quarter. 88.49% of the stock is owned by institutional investors.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $70.36 on Tuesday. 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 market cap of $3.66 billion, a P/E ratio of 12.52 and a beta of 0.76. The firm has a 50 day simple moving average of $69.37 and a 200 day simple moving average of $63.34. WSFS Financial has a fifty-two week low of $49.92 and a fifty-two week high of $73.22.

WSFS Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. This is an increase from WSFS Financial’s previous quarterly dividend of $0.17. WSFS Financial’s payout ratio is presently 14.23%.

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.