WSFS Financial (NASDAQ:WSFS) Cut to “Equal Weight” at Stephens

Stephens cut shares of WSFS Financial (NASDAQ:WSFS) from an overweight rating to an equal weight rating in a research note released on Wednesday, Marketbeat Ratings reports. The brokerage currently has $87.00 target price on the bank’s stock.

A number of other analysts have also recently commented on the company. Keefe, Bruyette & Woods lifted their target price on WSFS Financial from $83.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. UBS Group set a $76.00 target price on WSFS Financial in a research report on Monday, April 27th. TD Cowen restated a “buy” rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price target (up from $80.00) on shares of WSFS Financial in a research report on Monday, August 3rd. Finally, DA Davidson set a $83.00 price objective on WSFS Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $83.07.

WSFS Financial Stock Up 0.1%

Shares of NASDAQ:WSFS opened at $81.66 on Wednesday. The company has a market capitalization of $4.17 billion, a PE ratio of 13.66 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a twelve month low of $49.92 and a twelve month high of $82.94. The firm has a 50 day simple moving average of $78.01 and a 200-day simple moving average of $71.30.

WSFS Financial (NASDAQ:WSFS) last posted its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $284.70 million for the quarter, compared to the consensus estimate of $278.41 million. During the same period last year, the firm posted $1.27 EPS. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts predict that WSFS Financial will post 6.58 EPS for the current fiscal year.

WSFS Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.20 per share. 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 is 13.38%.

Insider Transactions at WSFS Financial

In related news, EVP Shari Kruzinski sold 3,500 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president owned 15,207 shares in the company, valued at $1,243,020.18. The trade was a 18.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Rodger Levenson sold 65,446 shares of the company’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 sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WSFS. Parkside Financial Bank & Trust lifted its holdings in shares of WSFS Financial by 11.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock worth $88,000 after purchasing an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its position in WSFS Financial by 0.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after buying an additional 198 shares during the last quarter. Root Financial Partners LLC increased its stake in WSFS Financial by 92.4% in the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares during the period. EverSource Wealth Advisors LLC increased its stake in WSFS Financial by 23.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock valued at $63,000 after buying an additional 221 shares during the period. Finally, Lido Advisors LLC raised its position in WSFS Financial by 3.7% during the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock worth $345,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds 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.