WSFS Financial (NASDAQ:WSFS) Sets New 1-Year High – Time to Buy?

WSFS Financial Corporation (NASDAQ:WSFS) reached a new 52-week high during trading on Monday . The company traded as high as $75.35 and last traded at $75.76, with a volume of 452740 shares trading hands. The stock had previously closed at $75.24.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. Zacks Research lowered shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. UBS Group set a $76.00 price target on shares of WSFS Financial in a research note on Monday, April 27th. Stephens reiterated an “overweight” rating and issued a $81.00 price target (up from $79.00) on shares of WSFS Financial in a report on Monday, April 27th. Finally, TD Cowen reissued a “buy” rating and set a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research note on Wednesday, April 29th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, WSFS Financial has a consensus rating of “Moderate Buy” and a consensus target price of $77.07.

WSFS Financial Trading Up 0.4%

The firm has a market capitalization of $3.93 billion, a PE ratio of 13.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a fifty day moving average of $70.79 and a 200 day moving average of $64.50.

WSFS Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were paid a dividend of $0.20 per share. This is a positive change from WSFS Financial’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. WSFS Financial’s payout ratio is presently 14.23%.

Insider Buying and Selling

In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total value of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares of the company’s stock, valued at $13,790,981.68. This represents a 26.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WSFS Financial

Several hedge funds and other institutional investors have recently modified their holdings of WSFS. Norges Bank acquired a new stake in shares of WSFS Financial in the 4th quarter valued at about $39,193,000. Vaughan Nelson Investment Management L.P. acquired a new stake in WSFS Financial during the first quarter valued at approximately $34,313,000. Goldman Sachs Group Inc. lifted its holdings in WSFS Financial by 71.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 470,191 shares of the bank’s stock worth $25,973,000 after buying an additional 195,979 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in WSFS Financial by 64.0% during the 1st quarter. Principal Financial Group Inc. now owns 427,481 shares of the bank’s stock worth $27,983,000 after buying an additional 166,837 shares during the last quarter. Finally, Citadel Advisors LLC grew its position in shares of WSFS Financial by 1,190.1% in the 3rd quarter. Citadel Advisors LLC now owns 153,234 shares of the bank’s stock worth $8,264,000 after acquiring an additional 141,356 shares in the last quarter. 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.