Analysts Set WSFS Financial Corporation (NASDAQ:WSFS) Price Target at $77.07

Shares of WSFS Financial Corporation (NASDAQ:WSFS) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $77.0714.

A number of equities research analysts have weighed in on WSFS shares. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. UBS Group set a $76.00 price target on WSFS Financial in a research note on Monday, April 27th. Brean Capital initiated coverage on WSFS Financial in a report on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price objective for the company. Zacks Research cut WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, DA Davidson increased their target price on WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a report on Monday, April 27th.

WSFS Financial Price Performance

WSFS opened at $77.17 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $72.95 and a 200-day moving average price of $66.51. WSFS Financial has a twelve month low of $49.92 and a twelve month high of $79.13. The stock has a market capitalization of $4.02 billion, a price-to-earnings ratio of 13.73 and a beta of 0.76.

WSFS Financial Increases Dividend

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

Insider Buying and Selling at WSFS Financial

In other news, CEO Rodger Levenson sold 65,446 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value 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 represents a 26.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Institutional Trading of WSFS Financial

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