WSFS Financial (NASDAQ:WSFS) Reaches New 12-Month High – Should You Buy?

WSFS Financial Corporation (NASDAQ:WSFS)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $74.41 and last traded at $74.0550, with a volume of 12327 shares. The stock had previously closed at $72.15.

Analyst Upgrades and Downgrades

WSFS has been the topic of a number of recent research reports. Brean Capital initiated coverage on shares of WSFS Financial in a research report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target on the stock. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. TD Cowen reiterated 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. Stephens reiterated an “overweight” rating and issued a $81.00 price objective (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, WSFS Financial presently has an average rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Stock Performance

The stock has a market capitalization of $3.79 billion, a P/E ratio of 12.96 and a beta of 0.76. The company’s 50-day moving average is $70.04 and its two-hundred day moving average is $63.96. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend 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 14.23%.

Hedge Funds Weigh In On WSFS Financial

Large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new position in WSFS Financial during the 3rd quarter valued at about $1,153,000. Denali Advisors LLC bought a new position in shares of WSFS Financial during the 4th quarter valued at about $2,425,000. Quantbot Technologies LP acquired a new position in shares of WSFS Financial in the 3rd quarter worth approximately $1,169,000. Numerai GP LLC acquired a new position in shares of WSFS Financial in the 3rd quarter worth approximately $5,713,000. Finally, JPMorgan Chase & Co. grew its stake in shares of WSFS Financial by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock worth $83,295,000 after purchasing an additional 33,398 shares during the last quarter. Institutional investors and hedge funds own 88.49% of the company’s stock.

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.