Brean Capital Begins Coverage on WSFS Financial (NASDAQ:WSFS)

Key Points

• Brean Capital initiated coverage on WSFS with a Buy rating and a $74.50 price target, implying roughly a 16.9% upside from the recent close.
• Analyst consensus is a Moderate Buy with an average price target of $70.58 after several recent upgrades and raised targets from firms including Keefe, Stephens, TD Cowen, Zacks, and Piper Sandler.
• WSFS beat quarterly EPS expectations ($1.43 vs. $1.26), has a market cap of $3.36B and a P/E of 12.48, while insiders sold about 3,455 shares in the last 90 days, leaving insiders with 1.21% ownership.

Investment analysts at Brean Capital initiated coverage on shares of WSFS Financial (NASDAQ:WSFS - Get Free Report) in a report released on Tuesday. The brokerage set a "buy" rating and a $74.50 price target on the bank's stock. Brean Capital's price objective would indicate a potential upside of 16.86% from the stock's previous close.

A number of other analysts have also recently weighed in on WSFS. Keefe, Bruyette & Woods increased their price objective on shares of WSFS Financial from $63.00 to $70.00 and gave the stock a "market perform" rating in a report on Thursday, January 29th. Stephens reaffirmed an "overweight" rating and issued a $71.00 target price (up from $66.00) on shares of WSFS Financial in a report on Wednesday, January 28th. TD Cowen restated a "buy" rating on shares of WSFS Financial in a research report on Wednesday, January 28th. Zacks Research upgraded shares of WSFS Financial from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 29th. Finally, Piper Sandler upped their price objective on WSFS Financial from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.58.

WSFS Financial Stock Performance

WSFS traded up $1.01 during trading on Tuesday, hitting $63.75. The stock had a trading volume of 43,780 shares, compared to its average volume of 431,320. The company's 50-day moving average price is $62.33 and its 200 day moving average price is $57.77. WSFS Financial has a twelve month low of $42.44 and a twelve month high of $71.32. The firm has a market capitalization of $3.36 billion, a P/E ratio of 12.48 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.84 and a current ratio of 0.84.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.17. The business had revenue of $90.08 million during the quarter, compared to the consensus estimate of $267.36 million. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. WSFS Financial's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.11 EPS. On average, equities research analysts forecast that WSFS Financial will post 4.47 EPS for the current fiscal year.

Insider Activity

In other WSFS Financial news, EVP Arthur J. Bacci sold 2,005 shares of the stock in a transaction on Monday, February 9th. The stock was sold at an average price of $70.51, for a total value of $141,372.55. Following the completion of the transaction, the executive vice president owned 26,366 shares in the company, valued at approximately $1,859,066.66. This represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Shari Kruzinski sold 1,000 shares of the company's stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $70.10, for a total value of $70,100.00. Following the completion of the sale, the executive vice president owned 14,740 shares of the company's stock, valued at $1,033,274. This represents a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,455 shares of company stock valued at $242,923 in the last 90 days. Insiders own 1.21% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of WSFS. Parkside Financial Bank & Trust boosted its stake in WSFS Financial by 11.4% in 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of WSFS Financial by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank's stock valued at $3,782,000 after acquiring an additional 198 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of WSFS Financial by 7.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,817 shares of the bank's stock worth $152,000 after buying an additional 203 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in WSFS Financial by 7.2% in the third quarter. Smartleaf Asset Management LLC now owns 3,263 shares of the bank's stock valued at $177,000 after purchasing an additional 218 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of WSFS Financial by 23.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank's stock worth $63,000 after acquiring an additional 221 shares during the period. 88.49% of the stock is owned by institutional investors and hedge funds.

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.

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