WSFS Financial (NASDAQ:WSFS) Upgraded to “Hold” at DA Davidson

DA Davidson upgraded shares of WSFS Financial (NASDAQ:WSFS) to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other brokerages have also commented on WSFS. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $63.00 to $70.00 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Piper Sandler lifted their price objective on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” 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. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a report on Wednesday, January 28th. Finally, Stephens restated an “overweight” rating and set a $71.00 target price (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $69.80.

WSFS Financial Stock Performance

Shares of WSFS stock opened at $66.05 on Tuesday. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 12.95 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average of $61.19 and a 200 day moving average of $57.25. WSFS Financial has a 1 year low of $42.44 and a 1 year high of $71.32.

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

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a $0.17 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial’s payout ratio is 13.33%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, EVP James J. Wechsler sold 450 shares of the company’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $69.89, for a total transaction of $31,450.50. Following the completion of the transaction, the executive vice president directly owned 5,777 shares in the company, valued at approximately $403,754.53. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Shari Kruzinski sold 1,000 shares of the stock in a transaction 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 directly owned 14,740 shares in the company, valued at approximately $1,033,274. The trade was a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,455 shares of company stock valued at $242,923 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Corp purchased a new stake in WSFS Financial during the 3rd quarter worth approximately $31,000. NewEdge Advisors LLC acquired a new position in WSFS Financial in the 4th quarter valued at $33,000. Torren Management LLC purchased a new position in WSFS Financial in the 4th quarter valued at $35,000. Clearstead Advisors LLC grew its holdings in shares of WSFS Financial by 167.5% during the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock worth $43,000 after buying an additional 489 shares in the last quarter. Finally, Quarry LP raised its position in shares of WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after buying an additional 500 shares during the last quarter. 88.49% of the stock is owned by hedge funds and other institutional investors.

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.