Brokerages Set WSFS Financial Co. (NASDAQ:WSFS) Price Target at $62.75

WSFS Financial Co. (NASDAQ:WSFS - Get Free Report) has received a consensus rating of "Hold" from the five brokerages that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $62.75.

WSFS has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of WSFS Financial from $66.00 to $64.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Wall Street Zen downgraded WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Stephens reiterated an "overweight" rating and set a $64.00 price objective on shares of WSFS Financial in a research note on Monday, April 28th.

WSFS Financial Trading Down 0.6%

WSFS traded down $0.33 during mid-day trading on Friday, hitting $53.00. The stock had a trading volume of 292,718 shares, compared to its average volume of 303,963. WSFS Financial has a 1-year low of $42.21 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.83 and a quick ratio of 0.86. The firm has a market capitalization of $3.01 billion, a price-to-earnings ratio of 11.99 and a beta of 0.86. The stock's fifty day simple moving average is $51.30 and its 200-day simple moving average is $53.83.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.09. The company had revenue of $256.11 million for the quarter, compared to analyst estimates of $235.44 million. WSFS Financial had a return on equity of 10.30% and a net margin of 18.77%. The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.11 earnings per share. As a group, research analysts forecast that WSFS Financial will post 4.47 EPS for the current fiscal year.

WSFS Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. This is a positive change from WSFS Financial's previous quarterly dividend of $0.15. WSFS Financial's dividend payout ratio is 15.28%.

Institutional Investors Weigh In On WSFS Financial

A number of institutional investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of WSFS Financial by 110.8% during the 3rd quarter. Barclays PLC now owns 120,397 shares of the bank's stock worth $6,139,000 after purchasing an additional 63,284 shares in the last quarter. KBC Group NV grew its stake in WSFS Financial by 68.4% during the fourth quarter. KBC Group NV now owns 2,885 shares of the bank's stock worth $153,000 after buying an additional 1,172 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in WSFS Financial by 2.7% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 59,136 shares of the bank's stock valued at $3,142,000 after purchasing an additional 1,578 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in WSFS Financial by 10.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,926 shares of the bank's stock worth $12,110,000 after purchasing an additional 21,990 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of WSFS Financial by 3.6% during the 4th quarter. Principal Financial Group Inc. now owns 317,254 shares of the bank's stock worth $16,856,000 after buying an additional 10,915 shares in the last quarter. Institutional investors own 88.49% of the company's stock.

About WSFS Financial

WSFS Financial Corporation operates as the savings and loan holding company for the Wilmington Savings Fund Society, FSB that provides various banking services in the United States. It operates through three segments: WSFS Bank, Cash Connect, and Wealth Management. It offers various deposit products, including savings accounts, demand deposits, interest-bearing demand deposits, money market deposit accounts, and certificates of deposit, as well as accepts jumbo certificates of deposit from individuals, businesses, and municipalities.