WSFS Financial (NASDAQ:WSFS) Stock Crosses Above 200-Day Moving Average - Here's Why

Key Points

• WSFS Financial shares crossed above their 200-day moving average, reaching $76.49 and closing around $75.57, compared with a 200-day average of $74.40.
• The bank’s latest quarterly results beat expectations, with EPS of $1.66 versus $1.50 expected and revenue of $284.7 million, up 5.6% year over year.
• Analysts remain cautious overall, with a consensus “Hold” rating and $83.07 price target; WSFS also pays a $0.20 quarterly dividend, equating to a 1.1% yield.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $74.40 and traded as high as $76.49. WSFS Financial shares last traded at $75.57, with a volume of 308,960 shares changing hands.

Analyst Ratings Changes

WSFS has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted 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 note on Monday, July 27th. 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 research note on Wednesday, August 12th. DA Davidson set a $83.00 price objective on WSFS Financial and gave the stock a "neutral" rating in a report on Monday, July 27th. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised WSFS Financial from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, WSFS Financial has a consensus rating of "Hold" and a consensus price target of $83.07.

WSFS Financial Stock Performance

The company has a market cap of $3.86 billion, a price-to-earnings ratio of 12.64 and a beta of 0.76. The firm's 50 day simple moving average is $79.50 and its 200-day simple moving average is $74.40. 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 issued its earnings results on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.16. The business had revenue of $284.70 million during the quarter, compared to analysts' expectations of $278.41 million. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 earnings per share. On average, sell-side analysts predict that WSFS Financial Corporation will post 6.57 EPS for the current year.

WSFS Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued a $0.20 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. WSFS Financial's dividend payout ratio is presently 13.38%.

Insider Transactions at WSFS Financial

In other WSFS Financial news, EVP Shari Kruzinski sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total value of $286,090.00. Following the transaction, the executive vice president directly owned 15,207 shares of the company's stock, valued at $1,243,020.18. This trade represents a 18.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Donahue sold 3,247 shares of the business's stock in a transaction that occurred 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 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. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WSFS. Root Financial Partners LLC increased its stake in shares of WSFS Financial by 92.4% in the 1st 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 last quarter. Allworth Financial LP acquired a new position in shares of WSFS Financial during the 2nd quarter valued at about $47,000. Clearstead Advisors LLC boosted its position in shares of WSFS Financial by 167.5% during the 4th quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock valued at $43,000 after acquiring an additional 489 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of WSFS Financial in the second quarter valued at about $64,000. Finally, EverSource Wealth Advisors LLC grew its holdings 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 valued at $63,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds 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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