WSFS Financial (NASDAQ:WSFS) Hits New 12-Month High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $78.43 and last traded at $78.5550, with a volume of 92488 shares traded. The stock had previously closed at $76.73.

Analyst Ratings Changes

Several research analysts have weighed in on WSFS shares. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. TD Cowen reissued a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Brean Capital started coverage on shares of WSFS Financial in a report on Tuesday, March 10th. They set a “buy” rating and a $74.50 target price on the stock. Stephens reaffirmed an “overweight” rating and set a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research report on Monday, April 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.07.

WSFS Financial Stock Up 2.0%

The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 13.93 and a beta of 0.76. The firm’s 50 day simple moving average is $72.48 and its two-hundred day simple moving average is $66.15.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.20 per share. This is an increase from WSFS Financial’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Friday, May 8th. WSFS Financial’s dividend payout ratio (DPR) is currently 14.23%.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the transaction, the chief executive officer owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of WSFS Financial

Large investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new position in shares of WSFS Financial in the 3rd quarter valued at approximately $1,153,000. Quantbot Technologies LP acquired a new stake in shares of WSFS Financial during the 3rd quarter worth approximately $1,169,000. Denali Advisors LLC bought a new position in WSFS Financial in the fourth quarter valued at approximately $2,425,000. Numerai GP LLC bought a new position in WSFS Financial in the third quarter valued at approximately $5,713,000. Finally, JPMorgan Chase & Co. raised its position in WSFS Financial by 2.2% during the third quarter. JPMorgan Chase & Co. now owns 1,544,508 shares of the bank’s stock valued at $83,295,000 after purchasing an additional 33,398 shares in the last quarter. 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.