WSFS Financial (NASDAQ:WSFS) Given New $89.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its WSFS Financial price target to $89 from $92 while maintaining a “buy” rating, implying approximately 14.7% upside from the stock’s $77.60 price.
• Analyst sentiment is mixed: WSFS has an overall “Hold” consensus rating and an average price target of $84.07, with three Buy ratings and five Holds.
• WSFS exceeded quarterly expectations, reporting $1.66 in earnings per share versus the $1.50 consensus and revenue of $284.7 million, up 5.6% year over year.

WSFS Financial (NASDAQ:WSFS - Get Free Report) had its price target decreased by stock analysts at TD Cowen from $92.00 to $89.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the bank's stock. TD Cowen's price objective would indicate a potential upside of 14.69% from the stock's current price.

Several other equities research analysts have also recently commented on the company. 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. Piper Sandler reiterated a "neutral" rating and issued a $90.00 price target (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. Stephens cut WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 price target on the stock. in a report on Wednesday, August 12th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, Weiss Ratings raised WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, August 31st. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, WSFS Financial has an average rating of "Hold" and a consensus target price of $84.07.

WSFS Financial Price Performance

Shares of WSFS stock traded down $0.43 during trading hours on Monday, reaching $77.60. 42,792 shares of the company were exchanged, compared to its average volume of 422,278. WSFS Financial has a fifty-two week low of $49.92 and a fifty-two week high of $82.94. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.84. The stock's fifty day moving average is $79.41 and its two-hundred day moving average is $74.61. The company has a market cap of $3.96 billion, a price-to-earnings ratio of 12.99 and a beta of 0.84.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share 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 business had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same quarter last year, the business posted $1.27 earnings per share. WSFS Financial's revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that WSFS Financial will post 6.57 earnings per share for the current fiscal year.

Insider Buying and Selling at WSFS Financial

In other news, EVP Shari Kruzinski sold 3,500 shares of the firm's stock in a transaction 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Donahue sold 3,247 shares of WSFS Financial stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $79.46, for a total value of $258,006.62. Following the sale, the director directly owned 11,495 shares of the company's stock, valued at approximately $913,392.70. This trade represents a 22.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WSFS Financial

Several institutional investors have recently modified their holdings of WSFS. Cim Investment Management Inc. bought a new stake in shares of WSFS Financial in the 2nd quarter valued at about $238,000. WINTON GROUP Ltd acquired a new position in WSFS Financial during the second quarter valued at approximately $5,013,000. Engineers Gate Manager LP acquired a new position in WSFS Financial during the second quarter valued at approximately $2,133,000. Integrated Wealth Concepts LLC bought a new stake in WSFS Financial in the second quarter valued at approximately $155,000. Finally, Squarepoint Ops LLC bought a new stake in WSFS Financial in the second quarter valued at approximately $303,000. 88.49% of the stock is currently owned by institutional investors and hedge funds.

WSFS Financial Company Profile

WSFS Financial Corporation is the parent company of WSFS Bank, a community-focused financial institution headquartered in Wilmington, Delaware. Founded in 1832 as the Wilmington Savings Fund Society, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS provides a range of banking services for consumers, businesses, and institutions, including checking and savings accounts, residential and commercial lending, mortgages, credit cards, treasury management, and digital banking.

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