WSFS Financial’s (WSFS) Neutral Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of WSFS Financial (NASDAQ:WSFS) in a research report released on Monday,Benzinga reports. The brokerage currently has a $90.00 price target on the bank’s stock, up from their previous price target of $80.00.

WSFS has been the subject of several other reports. Stephens reaffirmed an “overweight” rating and set a $87.00 price objective on shares of WSFS Financial in a research report on Monday, July 27th. TD Cowen reissued a “buy” rating on shares of WSFS Financial in a research report on Wednesday, July 29th. DA Davidson set a $83.00 target price on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of WSFS Financial in a research report on Friday, June 12th. Finally, UBS Group set a $76.00 price target on shares of WSFS Financial in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.07.

WSFS Financial Trading Up 0.4%

WSFS opened at $82.29 on Monday. The stock has a market capitalization of $4.28 billion, a P/E ratio of 13.76 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. WSFS Financial has a 12 month low of $49.92 and a 12 month high of $82.77. The firm’s fifty day simple moving average is $76.59 and its 200 day simple moving average is $70.24.

WSFS Financial (NASDAQ:WSFS) last released its earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The firm had revenue of $284.70 million during the quarter, compared to analysts’ expectations of $278.41 million. During the same quarter in the prior year, the company earned $1.27 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, research analysts anticipate that WSFS Financial will post 6.58 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a $0.20 dividend. The ex-dividend date is Friday, August 7th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. WSFS Financial’s dividend payout ratio (DPR) is presently 13.38%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, EVP Shari Kruzinski sold 3,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the transaction, the executive vice president directly owned 15,207 shares in the company, valued at $1,243,020.18. This trade represents a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rodger Levenson sold 65,446 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total value of $4,850,203.06. Following the completion of the transaction, the chief executive officer owned 186,088 shares of the company’s stock, valued at approximately $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WSFS Financial

Several large investors have recently made changes to their positions in the stock. Root Financial Partners LLC grew its stake in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares in the last quarter. NewEdge Advisors LLC bought a new stake in WSFS Financial during the fourth quarter worth $33,000. Torren Management LLC acquired a new stake in WSFS Financial in the fourth quarter valued at $35,000. Clearstead Advisors LLC lifted its stake in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank’s stock valued at $43,000 after acquiring an additional 489 shares during the last quarter. Finally, Quarry LP grew its position in shares of WSFS Financial by 159.7% in the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds 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.