WSFS Financial (NASDAQ:WSFS) Price Target Increased to $55.00 by Analysts at Piper Sandler

WSFS Financial (NASDAQ:WSFS) had its target price hoisted by Piper Sandler from $48.00 to $55.00 in a report issued on Tuesday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the bank’s stock.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised their price target on shares of WSFS Financial from $53.00 to $61.00 and gave the company a market perform rating in a report on Monday, July 29th. DA Davidson boosted their target price on WSFS Financial from $59.00 to $68.00 and gave the stock a buy rating in a research report on Monday, July 29th. Finally, Stephens upped their target price on WSFS Financial from $54.00 to $62.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, WSFS Financial currently has a consensus rating of Hold and a consensus target price of $61.50.

WSFS Financial Stock Performance

Shares of WSFS opened at $51.92 on Tuesday. WSFS Financial has a 52-week low of $33.12 and a 52-week high of $58.59. The stock’s 50-day simple moving average is $47.92 and its 200 day simple moving average is $45.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 12.09 and a beta of 1.02.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.04. The firm had revenue of $266.00 million for the quarter, compared to analysts’ expectations of $254.48 million. WSFS Financial had a return on equity of 11.47% and a net margin of 20.04%. The company’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. Research analysts forecast that WSFS Financial will post 4.31 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, August 9th. WSFS Financial’s dividend payout ratio is currently 13.39%.

Insider Buying and Selling

In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total transaction of $139,830.00. Following the sale, the executive vice president now owns 25,671 shares in the company, valued at $1,196,525.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WSFS Financial news, EVP Stephen P. Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $46.61, for a total value of $139,830.00. Following the completion of the sale, the executive vice president now owns 25,671 shares of the company’s stock, valued at $1,196,525.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $56.52, for a total transaction of $715,712.76. Following the transaction, the executive vice president now directly owns 25,671 shares in the company, valued at $1,450,924.92. The disclosure for this sale can be found here. 1.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WSFS. Raymond James & Associates increased its stake in WSFS Financial by 9.2% in the 4th quarter. Raymond James & Associates now owns 104,803 shares of the bank’s stock worth $4,814,000 after purchasing an additional 8,796 shares during the period. International Assets Investment Management LLC raised its holdings in WSFS Financial by 1,032.9% during the 4th quarter. International Assets Investment Management LLC now owns 827 shares of the bank’s stock valued at $38,000 after buying an additional 754 shares during the last quarter. New York State Teachers Retirement System raised its holdings in WSFS Financial by 5.5% during the 4th quarter. New York State Teachers Retirement System now owns 28,115 shares of the bank’s stock valued at $1,291,000 after buying an additional 1,475 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in WSFS Financial by 2.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,880 shares of the bank’s stock valued at $1,281,000 after buying an additional 538 shares during the period. Finally, Wakefield Asset Management LLLP bought a new stake in WSFS Financial in the 4th quarter worth $939,000. 88.49% of the stock is owned by institutional investors.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.