WSFS Financial (NASDAQ:WSFS) Reaches New 12-Month High at $56.08

Shares of WSFS Financial Co. (NASDAQ:WSFS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $56.08 and last traded at $54.89, with a volume of 425657 shares changing hands. The stock had previously closed at $55.45.

Several research firms have weighed in on WSFS. Keefe, Bruyette & Woods cut shares of WSFS Financial from an “outperform” rating to a “market perform” rating and set a $56.00 price target on the stock. in a report on Sunday, October 24th. DA Davidson increased their target price on shares of WSFS Financial from $48.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, October 25th. Finally, Zacks Investment Research lowered shares of WSFS Financial from a “buy” rating to a “hold” rating in a research report on Thursday. Eight analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $55.40.

The firm has a market cap of $2.67 billion, a P/E ratio of 9.82 and a beta of 1.15. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 0.79. The company’s 50 day moving average is $52.08 and its 200 day moving average is $49.05.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings results on Wednesday, October 20th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.31. The firm had revenue of $147.10 million during the quarter, compared to the consensus estimate of $154.39 million. WSFS Financial had a net margin of 41.60% and a return on equity of 15.04%. During the same quarter last year, the firm earned $1.00 earnings per share. On average, equities research analysts anticipate that WSFS Financial Co. will post 5.3 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 18th. Stockholders of record on Thursday, November 4th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, November 3rd. WSFS Financial’s payout ratio is currently 9.11%.

In related news, EVP Richard Wright sold 1,733 shares of WSFS Financial stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $53.66, for a total transaction of $92,992.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peggy H. Eddens sold 1,552 shares of WSFS Financial stock in a transaction on Monday, December 13th. The stock was sold at an average price of $49.19, for a total transaction of $76,342.88. The disclosure for this sale can be found here. Insiders have sold 13,647 shares of company stock valued at $721,216 in the last ninety days. Insiders own 1.98% of the company’s stock.

A number of large investors have recently bought and sold shares of WSFS. Cooke & Bieler LP grew its holdings in WSFS Financial by 130.8% in the second quarter. Cooke & Bieler LP now owns 1,343,036 shares of the bank’s stock worth $62,572,000 after purchasing an additional 761,251 shares during the period. Millennium Management LLC grew its holdings in WSFS Financial by 1,293.9% in the third quarter. Millennium Management LLC now owns 255,649 shares of the bank’s stock worth $13,117,000 after purchasing an additional 237,309 shares during the period. Ziegler Capital Management LLC grew its holdings in WSFS Financial by 223.4% in the third quarter. Ziegler Capital Management LLC now owns 260,010 shares of the bank’s stock worth $13,341,000 after purchasing an additional 179,623 shares during the period. Janus Henderson Group PLC grew its holdings in WSFS Financial by 11.7% in the third quarter. Janus Henderson Group PLC now owns 1,676,653 shares of the bank’s stock worth $86,029,000 after purchasing an additional 175,955 shares during the period. Finally, Nordea Investment Management AB grew its holdings in WSFS Financial by 100.5% in the third quarter. Nordea Investment Management AB now owns 245,422 shares of the bank’s stock worth $12,774,000 after purchasing an additional 122,989 shares during the period. Institutional investors and hedge funds own 90.09% of the company’s stock.

About WSFS Financial (NASDAQ:WSFS)

WSFS Financial Corp. is a savings and loan holding company, which engages in the provision of banking and financial services. It operates through the following business segments: WSFS Bank, Cash Connect, and Wealth Management. The WSFS Bank segment provides loans and other financial products to commercial and retail customers.

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