WSFS Financial (NASDAQ:WSFS) Raised to Hold at DA Davidson

WSFS Financial (NASDAQ:WSFS) was upgraded by investment analysts at DA Davidson to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other analysts have also issued reports on the company. Keefe, Bruyette & Woods boosted their target price on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Stephens restated an “overweight” rating and issued a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 29th. Finally, Piper Sandler boosted their price objective on shares of WSFS Financial from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.80.

WSFS Financial Stock Down 0.3%

WSFS Financial stock traded down $0.18 during mid-day trading on Tuesday, reaching $65.88. The stock had a trading volume of 54,191 shares, compared to its average volume of 438,776. The stock’s 50-day simple moving average is $61.19 and its 200-day simple moving average is $57.25. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $71.32. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $3.60 billion, a PE ratio of 12.92 and a beta of 0.79.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The firm had revenue of $90.08 million during the quarter, compared to analyst estimates of $267.36 million. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.11 EPS. On average, sell-side analysts forecast that WSFS Financial will post 4.47 EPS for the current fiscal year.

Insider Activity at WSFS Financial

In other WSFS Financial news, EVP Shari Kruzinski sold 1,000 shares of WSFS Financial stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $70.10, for a total transaction of $70,100.00. Following the transaction, the executive vice president owned 14,740 shares of the company’s stock, valued at $1,033,274. The trade was a 6.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James J. Wechsler sold 450 shares of the company’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the completion of the transaction, the executive vice president directly owned 5,777 shares of the company’s stock, valued at approximately $403,754.53. This trade represents a 7.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,455 shares of company stock worth $242,923. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DGS Capital Management LLC purchased a new position in WSFS Financial during the fourth quarter worth $330,000. Virtu Financial LLC bought a new stake in WSFS Financial during the 4th quarter valued at about $237,000. Invesco Ltd. lifted its holdings in WSFS Financial by 6.1% during the 4th quarter. Invesco Ltd. now owns 1,066,591 shares of the bank’s stock valued at $58,918,000 after buying an additional 60,931 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in WSFS Financial by 18.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,123 shares of the bank’s stock valued at $283,000 after buying an additional 798 shares during the period. Finally, NewEdge Advisors LLC bought a new position in WSFS Financial in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 88.49% of the company’s stock.

About WSFS Financial

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.