WSFS Financial (NASDAQ:WSFS) Reaches New 52-Week High - Time to Buy?

Key Points

• WSFS Financial hit a new 52-week high, trading as high as $83.30; shares were last reported at $82.22, up from the previous close of $81.08.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $84.21. Recent targets include $90 from TD Cowen and $89 from Keefe, Bruyette & Woods.
• Quarterly earnings of $1.75 per share beat estimates of $1.62, while revenue rose 6.3% year over year but came in below forecasts. WSFS also declared a $0.20 quarterly dividend, equivalent to a 1.0% yield.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday. The company traded as high as $83.30 and last traded at $82.2190, with a volume of 13,536 shares traded. The stock had previously closed at $81.08.

Wall Street Analysts Forecast Growth

WSFS has been the subject of several research reports. TD Cowen restated a "buy" rating and set a $90.00 price objective (up from $89.00) on shares of WSFS Financial in a research note on Monday, October 26th. DA Davidson set a $83.00 price objective on shares of WSFS Financial and gave the stock a "neutral" rating in a research note on Monday, July 27th. Weiss Ratings raised shares of WSFS Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, October 26th. Keefe, Bruyette & Woods boosted their target price on shares of WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research report 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 on the stock. in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $84.21.

WSFS Financial Stock Performance

The stock has a market cap of $4.13 billion, a PE ratio of 12.70 and a beta of 0.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $77.86 and a 200 day moving average of $72.92.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.13. The company had revenue of $287.57 million for the quarter, compared to analyst estimates of $289.82 million. WSFS Financial had a return on equity of 12.27% and a net margin of 24.10%. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. Equities analysts predict that WSFS Financial Corporation will post 6.62 EPS for the current fiscal year.

WSFS Financial Announces Dividend

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

Insider Activity

In other news, Director Michael Donahue sold 3,247 shares of WSFS Financial stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $79.46, for a total transaction of $258,006.62. Following the sale, the director owned 11,495 shares of the company's stock, valued at approximately $913,392.70. The trade was a 22.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WSFS Financial

Hedge funds have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in WSFS Financial in the second quarter valued at $9,147,000. WINTON GROUP Ltd acquired a new position in shares of WSFS Financial during the second quarter worth about $5,013,000. Jupiter Topco LLC purchased a new position in shares of WSFS Financial during the 2nd quarter worth approximately $1,629,000. California State Teachers Retirement System raised its position in WSFS Financial by 25.5% in the first quarter. California State Teachers Retirement System now owns 66,481 shares of the bank's stock worth $4,352,000 after acquiring an additional 13,525 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in WSFS Financial during the second quarter worth about $40,024,000. 88.49% of the stock is currently owned by hedge funds and other institutional investors.

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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