StockNews.com upgraded shares of WSFS Financial (NASDAQ:WSFS – Get Rating) from a sell rating to a hold rating in a report released on Friday.
Several other equities research analysts also recently weighed in on the stock. Piper Sandler increased their target price on shares of WSFS Financial to $58.00 and gave the stock an outperform rating in a research note on Wednesday, July 27th. DA Davidson increased their price target on shares of WSFS Financial to $52.00 in a report on Tuesday, August 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $54.50.
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WSFS Financial Price Performance
Shares of WSFS opened at $48.05 on Friday. WSFS Financial has a fifty-two week low of $37.03 and a fifty-two week high of $56.30. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 14.47 and a beta of 1.10. The firm has a 50-day simple moving average of $45.06 and a 200-day simple moving average of $44.82. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.76 and a current ratio of 0.76.
WSFS Financial (NASDAQ:WSFS – Get Rating) last announced its earnings results on Monday, July 25th. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. WSFS Financial had a net
margin of 23.44% and a return on equity of 9.91%. During the same quarter in the prior year, the business earned $2.00 earnings per share. On average, equities research analysts anticipate that WSFS Financial will post 4.33 earnings per share for the current year.
WSFS Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 4th. This is a boost from WSFS Financial's previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. WSFS Financial's dividend payout ratio (DPR) is 18.07%.
Insider Buying and Selling at WSFS Financial
In other news, EVP Richard Wright sold 3,740 shares of the stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.66, for a total value of $185,728.40. Following the sale, the executive vice president now directly owns 38,456 shares in the company, valued at $1,909,724.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Francis J. Leto sold 3,087 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $49.76, for a total transaction of $153,609.12. Following the sale, the director now owns 36,241 shares in the company, valued at $1,803,352.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Wright sold 3,740 shares of the firm's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $49.66, for a total transaction of $185,728.40. Following the sale, the executive vice president now owns 38,456 shares in the company, valued at approximately $1,909,724.96. The disclosure for this sale can be found here. 1.73% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On WSFS Financial
A number of hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its holdings in shares of WSFS Financial by 5.5% in the 2nd quarter. Captrust Financial Advisors now owns 7,427 shares of the bank's stock valued at $298,000 after purchasing an additional 390 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of WSFS Financial by 1.0% in the 2nd quarter. Texas Permanent School Fund now owns 46,876 shares of the bank's stock valued at $1,879,000 after purchasing an additional 454 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of WSFS Financial by 3.4% in the 2nd quarter. LPL Financial LLC now owns 15,544 shares of the bank's stock valued at $623,000 after purchasing an additional 512 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of WSFS Financial by 8.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 6,846 shares of the bank's stock valued at $319,000 after acquiring an additional 520 shares during the period. Finally, Yousif Capital Management LLC raised its stake in shares of WSFS Financial by 1.0% in the 1st quarter. Yousif Capital Management LLC now owns 60,896 shares of the bank's stock valued at $2,839,000 after acquiring an additional 608 shares during the period. Institutional investors and hedge funds own 88.34% of the company's stock.
WSFS Financial Company Profile
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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.
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