WSFS Financial (NASDAQ:WSFS) Hits New 12-Month High – Still a Buy?

WSFS Financial Corporation (NASDAQ:WSFS) shares reached a new 52-week high on Tuesday . The company traded as high as $74.41 and last traded at $74.0550, with a volume of 12327 shares traded. The stock had previously closed at $72.15.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WSFS. DA Davidson raised their price objective on shares of WSFS Financial from $70.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Zacks Research downgraded shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Stephens reiterated an “overweight” rating and issued a $81.00 price target (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Brean Capital began coverage on WSFS Financial in a research note on Tuesday, March 10th. They issued a “buy” rating and a $74.50 price target for the company. Finally, Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target (up from $72.00) on shares of WSFS Financial in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, WSFS Financial currently has an average rating of “Moderate Buy” and an average price target of $77.07.

WSFS Financial Trading Up 1.1%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The stock’s 50-day moving average is $70.43 and its two-hundred day moving average is $64.23. The stock has a market cap of $3.85 billion, a P/E ratio of 13.17 and a beta of 0.76.

WSFS Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. This is an increase from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 8th. WSFS Financial’s dividend payout ratio (DPR) is 14.23%.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently bought and sold shares of WSFS. AQR Capital Management LLC lifted its position in WSFS Financial by 102.6% during the first quarter. AQR Capital Management LLC now owns 10,347 shares of the bank’s stock valued at $537,000 after purchasing an additional 5,240 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in WSFS Financial by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank’s stock valued at $1,807,000 after purchasing an additional 1,176 shares during the last quarter. Millennium Management LLC lifted its position in WSFS Financial by 230.4% during the first quarter. Millennium Management LLC now owns 72,726 shares of the bank’s stock valued at $3,772,000 after purchasing an additional 50,717 shares during the last quarter. United Services Automobile Association bought a new position in WSFS Financial during the first quarter valued at $204,000. Finally, Jane Street Group LLC lifted its position in WSFS Financial by 579.0% during the first quarter. Jane Street Group LLC now owns 117,472 shares of the bank’s stock valued at $6,093,000 after purchasing an additional 100,171 shares during the last quarter. Institutional investors own 88.49% of the company’s stock.

WSFS Financial Company Profile

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.