WSFS Financial (NASDAQ:WSFS) Earns Buy Rating from Analysts at Brean Capital

Brean Capital began coverage on shares of WSFS Financial (NASDAQ:WSFS) in a research report report published on Tuesday, Marketbeat.com reports. The brokerage issued a buy rating and a $74.50 price objective on the bank’s stock.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Zacks Research raised shares of WSFS Financial from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 29th. Piper Sandler lifted their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research note on Wednesday, January 28th. Finally, Stephens reissued an “overweight” rating and issued a $71.00 price target (up from $66.00) 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, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.58.

WSFS Financial Trading Up 0.6%

WSFS Financial stock opened at $62.91 on Tuesday. The business has a 50 day moving average price of $62.78 and a two-hundred day moving average price of $57.88. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a 12 month low of $42.44 and a 12 month high of $71.32. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 12.34 and a beta of 0.76.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The business had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.WSFS Financial’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. As a group, equities analysts forecast that WSFS Financial will post 4.47 EPS for the current year.

WSFS Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were given a dividend of $0.17 per share. The ex-dividend date was Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.1%. WSFS Financial’s dividend payout ratio (DPR) is 13.33%.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP James J. Wechsler sold 450 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $69.89, for a total transaction of $31,450.50. Following the sale, the executive vice president directly owned 5,777 shares of the company’s stock, valued at approximately $403,754.53. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur J. Bacci sold 2,005 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $70.51, for a total transaction of $141,372.55. Following the sale, the executive vice president directly owned 26,366 shares of the company’s stock, valued at approximately $1,859,066.66. The trade was a 7.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,455 shares of company stock valued at $242,923 in the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On WSFS Financial

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

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.