WSFS Financial Corporation (NASDAQ:WSFS) Receives $77.07 Consensus Target Price from Analysts

WSFS Financial Corporation (NASDAQ:WSFS) has been assigned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $77.0714.

A number of equities research analysts have recently weighed in on WSFS shares. TD Cowen reissued a “buy” rating and set a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a report on Wednesday, April 29th. Stephens restated an “overweight” rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. DA Davidson increased their price objective on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th.

Insider Buying and Selling

In related news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On WSFS Financial

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of WSFS Financial by 1.3% in the fourth quarter. Franklin Resources Inc. now owns 2,465,792 shares of the bank’s stock worth $136,210,000 after buying an additional 32,423 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of WSFS Financial by 2.2% during 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 period. Invesco Ltd. grew its stake in shares of WSFS Financial by 6.1% during the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock worth $58,918,000 after purchasing an additional 60,931 shares during the period. Cooke & Bieler LP increased its holdings in shares of WSFS Financial by 2.3% during the 4th quarter. Cooke & Bieler LP now owns 1,055,902 shares of the bank’s stock valued at $58,328,000 after purchasing an additional 23,946 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of WSFS Financial by 11.4% during the 1st quarter. Bank of America Corp DE now owns 737,587 shares of the bank’s stock valued at $48,282,000 after purchasing an additional 75,283 shares in the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Stock Performance

Shares of WSFS Financial stock opened at $78.47 on Friday. The company has a 50 day moving average price of $72.64 and a 200 day moving average price of $66.30. The firm has a market capitalization of $4.08 billion, a P/E ratio of 13.96 and a beta of 0.76. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. WSFS Financial has a 52 week low of $49.92 and a 52 week high of $78.79.

WSFS Financial Increases Dividend

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