WSFS Financial (NASDAQ:WSFS) Stock Price Target Cut by TD Cowen

WSFS Financial (NASDAQ:WSFS) had its target price cut by stock analysts at TD Cowen from $92.00 to $89.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. TD Cowen’s price objective points to a potential upside of 17.23% from the stock’s current price.

WSFS has been the topic of several other reports. Piper Sandler reissued a “neutral” rating and set a $90.00 price target (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a report on Monday, July 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 research report on Monday, July 27th. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 target price on the stock. in a report on Wednesday, August 12th. Finally, Weiss Ratings raised WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.07.

WSFS Financial Price Performance

Shares of WSFS opened at $75.92 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a twelve month low of $49.92 and a twelve month high of $82.94. The stock has a market capitalization of $3.88 billion, a P/E ratio of 12.70 and a beta of 0.84. The company has a 50 day moving average of $79.23 and a 200-day moving average of $74.81.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. The business had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 earnings per share. As a group, equities research analysts forecast that WSFS Financial will post 6.57 EPS for the current fiscal year.

Insider Transactions at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of WSFS Financial stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the transaction, the executive vice president owned 15,207 shares of the company’s stock, valued at $1,243,020.18. This trade represents a 18.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael Donahue sold 3,247 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $79.46, for a total transaction of $258,006.62. Following the transaction, the director owned 11,495 shares in the company, valued at $913,392.70. This represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Several institutional investors and hedge funds have recently bought and sold shares of WSFS. BlackRock Inc. acquired a new position in shares of WSFS Financial during the 2nd quarter worth approximately $576,695,000. Pzena Investment Management LLC bought a new stake in WSFS Financial in the 2nd quarter valued at $68,174,000. Norges Bank acquired a new stake in WSFS Financial during the 4th quarter valued at $39,193,000. Bank of America Corp DE bought a new position in WSFS Financial during the second quarter worth $49,574,000. Finally, Vaughan Nelson Investment Management L.P. bought a new position in WSFS Financial during the first quarter worth $34,313,000. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS provides a range of banking services for consumers, businesses, and institutions, including checking and savings accounts, residential and commercial lending, mortgages, credit cards, treasury management, and digital banking.