StockNews.com upgraded shares of WSFS Financial (NASDAQ:WSFS – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
A number of other equities research analysts also recently issued reports on WSFS. Piper Sandler increased their price objective on WSFS Financial to $58.00 and gave the stock an outperform rating in a research report on Wednesday, July 27th. DA Davidson increased their price objective on WSFS Financial to $52.00 in a research report on Tuesday, August 9th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, WSFS Financial presently has a consensus rating of Hold and an average price target of $54.50.
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WSFS Financial Trading Down 1.7 %
NASDAQ:WSFS opened at $48.37 on Wednesday. The company has a market cap of $3.06 billion, a P/E ratio of 14.57 and a beta of 1.10. The stock's fifty day moving average price is $48.08 and its two-hundred day moving average price is $44.51. WSFS Financial has a 1 year low of $37.03 and a 1 year high of $56.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.76 and a quick ratio of 0.76.
WSFS Financial (NASDAQ:WSFS – Get Rating) last issued its quarterly earnings data on Monday, July 25th. The bank reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.10. WSFS Financial had a return on equity of 9.91% and a net
margin of 23.44%. During the same period in the prior year, the firm earned $2.00 EPS. As a group, analysts expect that WSFS Financial will post 4.33 EPS for the current year.
WSFS Financial Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. 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. WSFS Financial's dividend payout ratio is currently 18.07%.
Insider Activity at WSFS Financial
In related news, Director Francis J. Leto sold 3,087 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the transaction, the director now owns 36,241 shares of the company's stock, valued at $1,803,352.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Francis J. Leto sold 3,087 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the transaction, the director now owns 36,241 shares of the company's stock, valued at $1,803,352.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Wright sold 3,740 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 38,456 shares in the company, valued at approximately $1,909,724.96. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC grew its stake in shares of WSFS Financial by 43.5% during the first quarter. Harbor Investment Advisory LLC now owns 2,050 shares of the bank's stock valued at $96,000 after buying an additional 621 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of WSFS Financial during the first quarter valued at about $40,000. Russell Investments Group Ltd. grew its stake in shares of WSFS Financial by 55.6% during the first quarter. Russell Investments Group Ltd. now owns 47,005 shares of the bank's stock valued at $2,190,000 after buying an additional 16,792 shares during the last quarter. Swiss National Bank grew its stake in shares of WSFS Financial by 47.9% in the first quarter. Swiss National Bank now owns 154,740 shares of the bank's stock worth $7,214,000 after purchasing an additional 50,100 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of WSFS Financial by 38.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the bank's stock worth $1,382,000 after purchasing an additional 8,800 shares during the last quarter. 88.34% of the stock is owned by institutional investors.
About WSFS Financial
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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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