WSFS Financial Corporation (NASDAQ:WSFS) Stock Has Consensus Price Target of $83.07 According to Brokerages

Key Points

• Analyst consensus is “Hold” for WSFS Financial, with five hold ratings and three buys among eight brokerages. The average 12-month price target is $83.07, modestly above the reported share price of $78.03.
• WSFS Financial exceeded quarterly expectations, reporting $1.66 in EPS versus the $1.50 consensus estimate and $284.7 million in revenue versus $278.4 million expected. Revenue increased 5.6% year over year.
• The company pays a quarterly dividend of $0.20, equivalent to an annualized $0.80 dividend and a 1.0% yield. Two insiders recently sold shares, while institutional investors collectively own 88.49% of the stock.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) has received an average rating of "Hold" from the eight brokerages that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $83.07.

Several brokerages have weighed in on WSFS. Keefe, Bruyette & Woods boosted their price objective on WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. TD Cowen restated a "buy" rating on shares of WSFS Financial in a report on Wednesday, July 29th. Weiss Ratings raised shares of WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, August 31st. DA Davidson set a $83.00 target price on shares of WSFS Financial and gave the stock a "neutral" rating in a research note on Monday, July 27th. Finally, Stephens lowered shares of WSFS Financial from an "overweight" rating to an "equal weight" rating and set a $87.00 price target for the company. in a report on Wednesday, August 12th.

WSFS Financial Price Performance

WSFS opened at $78.03 on Monday. The company has a market cap of $3.99 billion, a P/E ratio of 13.05 and a beta of 0.84. The business's 50-day moving average price is $79.41 and its 200-day moving average price is $74.61. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. WSFS Financial has a 12 month low of $49.92 and a 12 month high of $82.94.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its 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 return on equity of 11.71% and a net margin of 23.34%.The company had revenue of $284.70 million during the quarter, compared to analyst estimates of $278.41 million. During the same quarter in the previous year, the company posted $1.27 EPS. WSFS Financial's revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts expect that WSFS Financial will post 6.57 EPS for the current year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.20 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial's payout ratio is presently 13.38%.

Insider Activity

In other news, Director Michael Donahue sold 3,247 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $79.46, for a total transaction of $258,006.62. Following the completion of the sale, the director directly owned 11,495 shares in the company, valued at approximately $913,392.70. This represents a 22.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Shari Kruzinski sold 3,500 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the sale, the executive vice president directly owned 15,207 shares in the company, valued at $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On WSFS Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP raised its holdings in WSFS Financial by 30.4% during the second quarter. Allworth Financial LP now owns 609 shares of the bank's stock valued at $47,000 after acquiring an additional 142 shares during the period. Root Financial Partners LLC boosted its stake in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock worth $28,000 after acquiring an additional 207 shares during the period. GAMMA Investing LLC grew its position in shares of WSFS Financial by 11.9% during the second quarter. GAMMA Investing LLC now owns 2,414 shares of the bank's stock worth $185,000 after purchasing an additional 256 shares in the last quarter. Sippican Capital Advisors raised its stake in WSFS Financial by 4.2% during the 1st quarter. Sippican Capital Advisors now owns 11,089 shares of the bank's stock valued at $726,000 after purchasing an additional 451 shares during the period. Finally, Glenmede Trust Co. NA raised its stake in WSFS Financial by 4.1% during the 1st quarter. Glenmede Trust Co. NA now owns 12,804 shares of the bank's stock valued at $838,000 after purchasing an additional 503 shares during the period. Hedge funds and other institutional investors own 88.49% of the company's stock.

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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