WSFS Financial (NASDAQ:WSFS) Sets New 1-Year High – Here’s Why

WSFS Financial Corporation (NASDAQ:WSFS)’s share price reached a new 52-week high on Tuesday . The company traded as high as $66.68 and last traded at $66.36, with a volume of 663326 shares changing hands. The stock had previously closed at $64.73.

Analyst Upgrades and Downgrades

WSFS has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and set a $71.00 price target (up previously from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. Keefe, Bruyette & Woods raised their target price on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a report on Thursday, January 29th. Zacks Research raised WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Finally, TD Cowen reaffirmed a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $69.00.

WSFS Financial Stock Up 1.6%

The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 13.48 and a beta of 0.79. The business has a 50 day moving average of $57.91 and a 200 day moving average of $56.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84.

WSFS Financial (NASDAQ:WSFS) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 13th. WSFS Financial’s dividend payout ratio is 13.33%.

Institutional Investors Weigh In On WSFS Financial

A number of institutional investors have recently added to or reduced their stakes in WSFS. Denali Advisors LLC acquired a new position in shares of WSFS Financial in the 4th quarter worth approximately $2,425,000. New York State Teachers Retirement System grew its position in WSFS Financial by 20.7% in the fourth quarter. New York State Teachers Retirement System now owns 29,861 shares of the bank’s stock valued at $1,650,000 after acquiring an additional 5,121 shares during the period. State of New Jersey Common Pension Fund D grew its position in WSFS Financial by 6.3% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 40,604 shares of the bank’s stock valued at $2,243,000 after acquiring an additional 2,402 shares during the period. Torren Management LLC acquired a new position in WSFS Financial during the fourth quarter worth $35,000. Finally, UBS Group AG lifted its holdings in shares of WSFS Financial by 31.3% during the fourth quarter. UBS Group AG now owns 214,753 shares of the bank’s stock valued at $11,863,000 after acquiring an additional 51,234 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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.