WSFS Financial (NASDAQ:WSFS) Price Target Raised to $67.00 at TD Cowen

WSFS Financial (NASDAQ:WSFS) had its price target increased by research analysts at TD Cowen from $66.00 to $67.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. TD Cowen’s target price would indicate a potential upside of 18.83% from the company’s previous close.

WSFS has been the subject of several other reports. DA Davidson downgraded WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, October 8th. Piper Sandler set a $62.00 target price on shares of WSFS Financial and gave the stock a “neutral” rating in a report on Wednesday, December 17th. Finally, Cowen restated a “buy” rating on shares of WSFS Financial in a report on Wednesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.40.

WSFS Financial Price Performance

WSFS traded down $0.11 on Wednesday, hitting $56.39. 96,368 shares of the company’s stock traded hands, compared to its average volume of 273,314. WSFS Financial has a one year low of $42.44 and a one year high of $59.67. The company’s 50 day simple moving average is $55.54 and its 200-day simple moving average is $55.62. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.09. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 11.62 and a beta of 0.80.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Boston Partners grew its position in WSFS Financial by 2.0% during the 2nd quarter. Boston Partners now owns 350,327 shares of the bank’s stock worth $19,240,000 after purchasing an additional 6,755 shares during the last quarter. Strid Group LLC acquired a new stake in shares of WSFS Financial during the second quarter worth $281,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of WSFS Financial during the second quarter worth $227,000. Norges Bank purchased a new stake in shares of WSFS Financial during the second quarter valued at $36,860,000. Finally, Squarepoint Ops LLC acquired a new position in shares of WSFS Financial in the 2nd quarter valued at $1,028,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

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.