WSFS Financial (NASDAQ:WSFS) Reaches New 12-Month High – What’s Next?

Shares of WSFS Financial Corporation (NASDAQ:WSFS) hit a new 52-week high during trading on Monday . The stock traded as high as $71.32 and last traded at $71.1250, with a volume of 187930 shares traded. The stock had previously closed at $70.65.

Analysts Set New Price Targets

WSFS has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and set a $71.00 target price (up from $66.00) on shares of WSFS Financial in a research note on Wednesday, January 28th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Piper Sandler boosted their target price on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Keefe, Bruyette & Woods raised their price objective on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Finally, DA Davidson lowered WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, WSFS Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

WSFS Financial Price Performance

The firm has a market cap of $3.85 billion, a P/E ratio of 13.82 and a beta of 0.79. The company has a fifty day moving average of $58.48 and a 200-day moving average of $56.17. 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 released its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating 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 company had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. During the same period last year, the firm earned $1.11 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Friday, February 13th. WSFS Financial’s payout ratio is presently 13.33%.

Institutional Trading of WSFS Financial

A number of large investors have recently bought and sold shares of WSFS. AQR Capital Management LLC raised its holdings in WSFS Financial by 102.6% during the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after acquiring an additional 5,240 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of WSFS Financial by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock worth $1,807,000 after purchasing an additional 1,176 shares during the last quarter. Millennium Management LLC grew its stake in WSFS Financial by 230.4% in the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock worth $3,772,000 after buying an additional 50,717 shares in the last quarter. United Services Automobile Association purchased a new position in WSFS Financial in the first quarter worth $204,000. Finally, Jane Street Group LLC increased its stake in WSFS Financial by 579.0% in the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after acquiring an additional 100,171 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.