WSFS Financial Corporation (NASDAQ:WSFS) Stock Has Average Price Target of $84.21 According to Brokerages

Key Points

• WSFS Financial has a “Moderate Buy” consensus rating from eight analysts, with an average 12-month price target of $84.21 versus the stock’s $79.32 opening price.
• The bank reported quarterly EPS of $1.75, exceeding estimates of $1.62, while revenue rose 6.3% year over year to $287.57 million.
• WSFS declared a quarterly dividend of $0.20 per share, or $0.80 annualized, representing a 1.0% yield; institutional investors own 88.49% of the company.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eight analysts that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $84.21.

A number of brokerages have issued reports on WSFS. Weiss Ratings raised WSFS Financial from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Monday. Piper Sandler reiterated a "neutral" rating and set a $90.00 price objective (up from $80.00) on shares of WSFS Financial in a report on Monday, August 3rd. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a "neutral" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods raised their target price on shares of 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, TD Cowen restated a "buy" rating and issued a $90.00 target price (up from $89.00) on shares of WSFS Financial in a report on Monday.

WSFS Financial Trading Up 1.1%

Shares of WSFS opened at $79.32 on Friday. The stock has a fifty day moving average of $77.82 and a two-hundred day moving average of $72.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.84. The company has a market capitalization of $4.05 billion, a PE ratio of 12.47 and a beta of 0.84. WSFS Financial has a fifty-two week low of $50.79 and a fifty-two week high of $82.94.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.13. The business had revenue of $287.57 million for the quarter, compared to analysts' expectations of $289.82 million. WSFS Financial had a return on equity of 12.27% and a net margin of 24.10%. The business's revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.37 earnings per share. As a group, analysts forecast that WSFS Financial will post 6.66 EPS for the current year.

WSFS Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, November 6th. WSFS Financial's dividend payout ratio (DPR) is 12.58%.

Insider Activity

In related news, Director Michael Donahue sold 3,247 shares of the 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 transaction, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WSFS Financial

A number of institutional investors have recently added to or reduced their stakes in WSFS. BlackRock Inc. purchased a new position in WSFS Financial in the second quarter valued at about $576,695,000. Pzena Investment Management LLC purchased a new stake in shares of WSFS Financial in the second quarter worth about $68,174,000. Bank of America Corp DE acquired a new stake in shares of WSFS Financial in the second quarter valued at about $49,574,000. The Manufacturers Life Insurance Company acquired a new stake in shares of WSFS Financial in the second quarter valued at about $40,024,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of WSFS Financial during the 2nd quarter valued at about $29,722,000. Hedge funds and other institutional investors own 88.49% of the company's stock.

WSFS Financial Company Profile

WSFS Financial Corporation is the financial holding company for WSFS Bank, a full-service community banking institution headquartered in Wilmington, Delaware. Founded in 1832, WSFS is one of the oldest and largest locally managed banks in the Delaware Valley.

WSFS Bank provides a range of banking services for individuals, families, businesses and institutions. Its offerings include checking and savings accounts, consumer lending, residential mortgages, commercial loans, treasury and cash-management services, and online and mobile banking.

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