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

WSFS Financial Corporation (NASDAQ:WSFS)’s share price hit a new 52-week high on Thursday. The company traded as high as $83.30 and last traded at $82.2190, with a volume of 13,536 shares changing hands. The stock had previously closed at $81.08.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WSFS. Stephens cut WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price objective on the stock. in a research report on Wednesday, August 12th. DA Davidson set a $83.00 price target on WSFS Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods increased their target price on WSFS Financial from $83.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of WSFS Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, October 26th. Finally, TD Cowen reiterated a “buy” rating and set a $90.00 price target (up from $89.00) on shares of WSFS Financial in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.21.

WSFS Financial Stock Down 0.2%

The business’s fifty day simple moving average is $77.88 and its 200 day simple moving average is $73.15. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 12.80 and a beta of 0.85.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, October 22nd. The bank reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.13. WSFS Financial had a return on equity of 12.27% and a net margin of 24.10%. The company had revenue of $287.57 million during the quarter, compared to the consensus estimate of $289.82 million. During the same quarter last year, the firm earned $1.37 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Equities analysts forecast that WSFS Financial Corporation will post 6.62 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, November 6th. WSFS Financial’s dividend payout ratio (DPR) is presently 12.58%.

Insider Activity

In other WSFS Financial news, Director Michael Donahue sold 3,247 shares of WSFS Financial stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total value of $258,006.62. Following the completion of the transaction, the director directly owned 11,495 shares of the company’s stock, valued at $913,392.70. This trade represents a 22.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently made changes to their positions in the company. Fulcrum Asset Management LLP boosted its holdings in WSFS Financial by 228.4% in the 3rd quarter. Fulcrum Asset Management LLP now owns 335 shares of the bank’s stock valued at $25,000 after purchasing an additional 233 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of WSFS Financial during the 3rd quarter worth approximately $36,000. USA Financial Formulas purchased a new position in WSFS Financial during the third quarter worth approximately $40,000. Allworth Financial LP acquired a new position in WSFS Financial during the 2nd quarter worth approximately $47,000. Finally, Reyes Financial Architecture Inc. bought a new stake in shares of WSFS Financial in the third quarter worth $62,000. 88.49% of the stock is owned by hedge funds and other institutional investors.

WSFS Financial Company Profile

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.