DA Davidson Forecasts Strong Price Appreciation for WSFS Financial (NASDAQ:WSFS) Stock

Key Points

• DA Davidson raised its price target on WSFS to $76 (from $70) while maintaining a "neutral" rating, implying about a 5.7% upside from the current share price.
• WSFS beat quarterly EPS estimates with $1.43 per share and reported revenue up 4% year-over-year; the stock traded around $71.90 near its 12‑month high, with a market cap of $3.76 billion and a P/E of 12.8.
• The analyst mix is split (four Buy, four Hold) producing a consensus "Moderate Buy" and a $73.79 average price target, while insiders have recently sold shares and now own about 1.10% of the company.

WSFS Financial (NASDAQ:WSFS - Get Free Report) had its price target increased by investment analysts at DA Davidson from $70.00 to $76.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the bank's stock. DA Davidson's target price suggests a potential upside of 5.70% from the stock's current price.

Several other equities research analysts have also issued reports on WSFS. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of WSFS Financial in a research note on Wednesday, January 21st. Keefe, Bruyette & Woods boosted their target price on WSFS Financial from $63.00 to $70.00 and gave the company a "market perform" rating in a research note on Thursday, January 29th. Piper Sandler boosted their target price on WSFS Financial from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Thursday, April 2nd. Stephens reissued an "overweight" rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research note on Monday. Finally, Zacks Research lowered WSFS Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.79.

WSFS Financial Price Performance

WSFS stock traded up $0.51 during mid-day trading on Monday, hitting $71.90. 201,931 shares of the stock were exchanged, compared to its average volume of 433,353. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.84. The business has a fifty day moving average price of $66.08 and a 200 day moving average price of $60.25. WSFS Financial has a 12 month low of $49.92 and a 12 month high of $72.84. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.80 and a beta of 0.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Monday, January 26th. The bank reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.17. WSFS Financial had a return on equity of 11.23% and a net margin of 22.55%.The firm had revenue of $90.08 million during the quarter, compared to analyst estimates of $267.36 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts anticipate that WSFS Financial will post 5.9 EPS for the current year.

Insider Activity

In other news, EVP Arthur J. Bacci sold 2,005 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 26,366 shares of the company's stock, valued at approximately $1,859,066.66. The trade was a 7.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Shari Kruzinski sold 1,000 shares of the business's stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $70.10, for a total value of $70,100.00. Following the transaction, the executive vice president owned 14,740 shares in the company, valued at approximately $1,033,274. This represents a 6.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 3,455 shares of company stock valued at $242,923. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of WSFS. Root Financial Partners LLC raised its position in WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock valued at $28,000 after purchasing an additional 207 shares during the last quarter. First Horizon Corp purchased a new stake in shares of WSFS Financial in the 3rd quarter worth approximately $31,000. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial in the 4th quarter worth approximately $33,000. Torren Management LLC purchased a new stake in shares of WSFS Financial in the 4th quarter worth approximately $35,000. Finally, Clearstead Advisors LLC grew its stake in shares of WSFS Financial by 167.5% in the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock worth $43,000 after buying an additional 489 shares during the last quarter. Institutional investors own 88.49% of the company's stock.

About WSFS Financial

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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