WSFS Financial (NASDAQ:WSFS) Hits New 12-Month High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $78.43 and last traded at $78.5550, with a volume of 92488 shares traded. The stock had previously closed at $76.73.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. DA Davidson lifted their target price on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Stephens reissued an “overweight” rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Brean Capital began coverage on shares of WSFS Financial in a research report on Tuesday, March 10th. They set a “buy” rating and a $74.50 price objective for the company. Finally, Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, WSFS Financial has a consensus rating of “Moderate Buy” and an average target price of $77.07.

WSFS Financial Trading Up 2.0%

The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s fifty day simple moving average is $72.48 and its 200-day simple moving average is $66.15. The stock has a market cap of $4.07 billion, a P/E ratio of 13.93 and a beta of 0.76.

WSFS Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.20 per share. This is a boost from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 8th. WSFS Financial’s payout ratio is currently 14.23%.

Insider Activity at WSFS Financial

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the sale, the chief executive officer owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WSFS. Parkside Financial Bank & Trust grew its stake in shares of WSFS Financial by 11.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after acquiring an additional 163 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of WSFS Financial by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after purchasing an additional 198 shares in the last quarter. Root Financial Partners LLC lifted its position in shares of WSFS Financial by 92.4% during the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in WSFS Financial by 23.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock worth $63,000 after purchasing an additional 221 shares during the last quarter. Finally, Lido Advisors LLC grew its position in WSFS Financial by 3.7% in the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock worth $345,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 88.49% of the company’s stock.

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.