WSFS Financial’s (WSFS) Buy (B-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their buy (b-) rating on shares of WSFS Financial (NASDAQ:WSFS) in a research report released on Friday morning,Weiss Ratings reports.

A number of other brokerages have also issued reports on WSFS. DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. TD Cowen assumed coverage on WSFS Financial in a research note on Thursday, September 25th. They issued a “buy” rating and a $67.00 target price for the company. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.25.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $53.02 on Friday. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 10.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.84 and a quick ratio of 0.83. The business has a fifty day moving average of $55.18 and a 200 day moving average of $54.31. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $62.75.

WSFS Financial (NASDAQ:WSFS) last issued its earnings results on Tuesday, May 3rd. The bank reported $1.39 earnings per share (EPS) for the quarter. The company had revenue of $161.68 million during the quarter. WSFS Financial had a return on equity of 10.60% and a net margin of 20.44%. As a group, research analysts expect that WSFS Financial will post 4.47 earnings per share for the current year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 7th. WSFS Financial’s payout ratio is 14.02%.

Hedge Funds Weigh In On WSFS Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of WSFS Financial by 4.9% in the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank’s stock valued at $230,000 after buying an additional 209 shares during the period. GAMMA Investing LLC increased its stake in shares of WSFS Financial by 37.0% in the 1st quarter. GAMMA Investing LLC now owns 2,038 shares of the bank’s stock valued at $106,000 after purchasing an additional 550 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of WSFS Financial by 2.2% in the 1st quarter. Principal Financial Group Inc. now owns 324,266 shares of the bank’s stock valued at $16,820,000 after purchasing an additional 7,012 shares in the last quarter. KBC Group NV increased its stake in shares of WSFS Financial by 6.8% in the 1st quarter. KBC Group NV now owns 3,081 shares of the bank’s stock valued at $160,000 after purchasing an additional 196 shares in the last quarter. Finally, Cerity Partners LLC purchased a new position in shares of WSFS Financial in the 1st quarter valued at about $661,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.