WSFS Financial (NASDAQ:WSFS) Hits New 52-Week High – Time to Buy?

WSFS Financial Corporation (NASDAQ:WSFS)’s stock price reached a new 52-week high on Monday . The company traded as high as $71.32 and last traded at $71.1250, with a volume of 187930 shares. The stock had previously closed at $70.65.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on WSFS shares. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Weiss Ratings restated a “buy (b-)” rating on shares of WSFS Financial in a report on Wednesday, January 21st. Stephens reissued an “overweight” rating and issued a $71.00 price objective (up previously from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Finally, Piper Sandler upped their target price on shares of WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.00.

WSFS Financial Stock Performance

The stock has a 50 day moving average of $58.48 and a 200 day moving average of $56.17. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 13.82 and a beta of 0.79.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data 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. The business had revenue of $90.08 million for the quarter, compared to analyst estimates of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.WSFS Financial’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. As a group, analysts anticipate that WSFS Financial Corporation will post 4.47 EPS for the current fiscal year.

WSFS Financial Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First Horizon Corp bought a new stake in WSFS Financial in the third quarter valued at approximately $31,000. Torren Management LLC bought a new stake in shares of WSFS Financial during the 4th quarter valued at about $35,000. Clearstead Advisors LLC grew its stake in 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 purchasing an additional 489 shares during the period. Quarry LP increased its holdings in WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank’s stock worth $44,000 after purchasing an additional 500 shares in the last quarter. Finally, CWM LLC lifted its stake in WSFS Financial by 31.2% in the second quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after buying an additional 219 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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.