Piper Sandler Increases WSFS Financial (NASDAQ:WSFS) Price Target to $48.00

WSFS Financial (NASDAQ:WSFS) had its price objective raised by Piper Sandler from $45.00 to $48.00 in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

WSFS Financial Stock Performance

NASDAQ:WSFS opened at $43.97 on Wednesday. The company has a market capitalization of $2.64 billion, a PE ratio of 9.81 and a beta of 1.02. The company has a 50 day simple moving average of $44.21 and a two-hundred day simple moving average of $43.24. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.86. WSFS Financial has a fifty-two week low of $32.76 and a fifty-two week high of $47.97.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, April 25th. The bank reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. The business had revenue of $251.10 million during the quarter, compared to the consensus estimate of $247.57 million. WSFS Financial had a net margin of 20.73% and a return on equity of 11.94%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 EPS. Research analysts anticipate that WSFS Financial will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, May 9th. WSFS Financial’s dividend payout ratio is presently 13.39%.

Insider Buying and Selling at WSFS Financial

In other news, EVP Stephen P. Clark sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $46.61, for a total transaction of $139,830.00. Following the completion of the sale, the executive vice president now owns 25,671 shares of the company’s stock, valued at approximately $1,196,525.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.29% of the company’s stock.

Institutional Trading of WSFS Financial

Large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in shares of WSFS Financial by 1,032.9% during the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock worth $38,000 after buying an additional 754 shares during the period. Fidelis Capital Partners LLC acquired a new stake in WSFS Financial in the 1st quarter valued at $45,000. Covestor Ltd grew its position in WSFS Financial by 77.7% in the 3rd quarter. Covestor Ltd now owns 1,180 shares of the bank’s stock valued at $43,000 after purchasing an additional 516 shares during the period. GAMMA Investing LLC acquired a new stake in WSFS Financial in the 4th quarter valued at $54,000. Finally, Quantbot Technologies LP acquired a new stake in WSFS Financial in the 3rd quarter valued at $66,000. Institutional investors and hedge funds own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.