TD Cowen Cuts WSFS Financial (NASDAQ:WSFS) Price Target to $89.00

WSFS Financial (NASDAQ:WSFS) had its price objective trimmed by TD Cowen from $92.00 to $89.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other equities analysts have also weighed in on the company. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded WSFS Financial from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, August 31st. Stephens lowered WSFS Financial from an “overweight” rating to an “equal weight” rating and set a $87.00 price objective for the company. in a report on Wednesday, August 12th. Piper Sandler reissued a “neutral” rating and set a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. Finally, DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a “neutral” rating in a research report on Monday, July 27th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.07.

WSFS Financial Stock Performance

NASDAQ WSFS opened at $74.75 on Monday. The company’s 50 day simple moving average is $79.11 and its two-hundred day simple moving average is $74.89. 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 has a 1 year low of $49.92 and a 1 year high of $82.94. The stock has a market capitalization of $3.82 billion, a PE ratio of 12.50 and a beta of 0.84.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same period in the previous year, the business earned $1.27 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts predict that WSFS Financial will post 6.59 earnings per share for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.

Insider Activity

In other news, Director Michael J. Donahue sold 3,247 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $79.46, for a total transaction of $258,006.62. Following the transaction, the director directly owned 11,495 shares in the company, valued at approximately $913,392.70. This represents a 22.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shari Kruzinski sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president directly owned 15,207 shares in the company, valued at approximately $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Trading of WSFS Financial

Several hedge funds and other institutional investors have recently bought and sold shares of WSFS. Legal & General Group Plc purchased a new stake in WSFS Financial during the 2nd quarter valued at about $9,147,000. Jupiter Topco LLC purchased a new position in WSFS Financial in the 2nd quarter worth approximately $1,629,000. California State Teachers Retirement System increased its stake in WSFS Financial by 25.5% in the 1st quarter. California State Teachers Retirement System now owns 66,481 shares of the bank’s stock worth $4,352,000 after purchasing an additional 13,525 shares during the period. Assenagon Asset Management S.A. bought a new stake in WSFS Financial in the second quarter valued at approximately $1,384,000. Finally, Hsbc Holdings PLC bought a new stake in WSFS Financial in the fourth quarter valued at approximately $1,050,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS provides a range of banking services for consumers, businesses, and institutions, including checking and savings accounts, residential and commercial lending, mortgages, credit cards, treasury management, and digital banking.