Analysts’ Recent Ratings Updates for WSFS Financial (WSFS)

A number of firms have modified their ratings and price targets on shares of WSFS Financial (NASDAQ: WSFS) recently:

• 7/30/2024 – WSFS Financial had its price target raised by analysts at Piper Sandler from $48.00 to $55.00. They now have a “neutral” rating on the stock.
• 7/29/2024 – WSFS Financial had its price target raised by analysts at Stephens from $54.00 to $62.00. They now have an “overweight” rating on the stock.
• 7/29/2024 – WSFS Financial had its price target raised by analysts at Keefe, Bruyette & Woods from $53.00 to $61.00. They now have a “market perform” rating on the stock.
• 7/29/2024 – WSFS Financial had its price target raised by analysts at DA Davidson from $59.00 to $68.00. They now have a “buy” rating on the stock.

WSFS Financial Stock Down 0.9 %

Shares of WSFS stock opened at $49.20 on Thursday. WSFS Financial Co. has a one year low of $33.12 and a one year high of $58.59. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.98 and a beta of 1.02. The company’s fifty day moving average price is $49.09 and its 200-day moving average price is $45.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.86 and a quick ratio of 0.86.

WSFS Financial (NASDAQ:WSFS) last announced its quarterly earnings results on Thursday, July 25th. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.04. WSFS Financial had a net margin of 20.04% and a return on equity of 11.47%. The business had revenue of $266.00 million during the quarter, compared to analysts’ expectations of $254.48 million. During the same period last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts expect that WSFS Financial Co. will post 4.31 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. WSFS Financial’s dividend payout ratio is currently 13.39%.

Insider Buying and Selling

In other news, EVP Stephen P. Clark sold 12,663 shares of WSFS Financial stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $56.52, for a total value of $715,712.76. Following the transaction, the executive vice president now directly owns 25,671 shares of the company’s stock, valued at approximately $1,450,924.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.29% of the stock is owned by insiders.

Hedge Funds Weigh In On WSFS Financial

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in WSFS Financial by 7,791.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 166,426 shares of the bank’s stock valued at $7,644,000 after buying an additional 164,317 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of WSFS Financial during the 1st quarter worth $1,253,000. Norges Bank acquired a new position in shares of WSFS Financial during the 4th quarter worth $31,369,000. BNP Paribas Financial Markets grew its stake in shares of WSFS Financial by 51.4% during the 1st quarter. BNP Paribas Financial Markets now owns 30,156 shares of the bank’s stock worth $1,361,000 after purchasing an additional 10,234 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of WSFS Financial by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,338,200 shares of the bank’s stock worth $331,246,000 after purchasing an additional 372,402 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.