WSFS Financial (NASDAQ:WSFS) Given Neutral Rating at Piper Sandler

Key Points

• Piper Sandler reaffirmed a “neutral” rating on WSFS Financial while raising its price target from $80 to $90, implying 10.86% potential upside. Analysts overall give the stock a “Moderate Buy” consensus, with an average target of $83.07.
• WSFS Financial reported quarterly EPS of $1.66, beating estimates of $1.50, while revenue rose 5.6% year over year to $284.7 million. Shares traded at $81.19, near their 52-week high of $82.30.
• Company insiders recently sold shares, including the CEO’s sale of 65,446 shares and an executive vice president’s sale of 3,500 shares; insiders retain a 1.10% ownership stake, while institutions and hedge funds own 88.49%.

WSFS Financial (NASDAQ:WSFS - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Piper Sandler in a note issued to investors on Monday,Benzinga reports. They currently have a $90.00 target price on the bank's stock, up from their prior target price of $80.00. Piper Sandler's price objective indicates a potential upside of 10.86% from the company's previous close.

Several other research analysts have also recently weighed in on WSFS. DA Davidson set a $83.00 price target on shares of WSFS Financial and gave the company a "neutral" rating in a report on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on shares of WSFS Financial from $83.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. UBS Group set a $76.00 target price on shares of WSFS Financial in a research note on Monday, April 27th. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a report on Wednesday. Finally, Stephens restated an "overweight" rating and set a $87.00 price objective on shares of WSFS Financial in a research report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.07.

WSFS Financial Stock Performance

Shares of NASDAQ:WSFS traded up $0.98 during trading on Monday, hitting $81.19. 77,529 shares of the stock were exchanged, compared to its average volume of 444,874. The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 13.56 and a beta of 0.76. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.84. WSFS Financial has a 1-year low of $49.92 and a 1-year high of $82.30. The company's fifty day simple moving average is $76.00 and its 200-day simple moving average is $69.70.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.16. WSFS Financial had a net margin of 23.34% and a return on equity of 11.71%. The firm had revenue of $284.70 million for the quarter, compared to analyst estimates of $278.41 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The business's revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that WSFS Financial will post 6.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Shari Kruzinski sold 3,500 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $81.74, for a total transaction of $286,090.00. Following the sale, the executive vice president owned 15,207 shares of the company's stock, valued at $1,243,020.18. The trade was a 18.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rodger Levenson sold 65,446 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.10% of the company's stock.

Institutional Trading of WSFS Financial

A number of institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC increased its holdings in 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 buying an additional 207 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of WSFS Financial in the fourth quarter valued at about $33,000. Torren Management LLC purchased a new position in WSFS Financial in the fourth quarter worth approximately $35,000. Clearstead Advisors LLC increased its stake in WSFS Financial by 167.5% during the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock worth $43,000 after acquiring an additional 489 shares during the last quarter. Finally, Quarry LP raised its position in WSFS Financial by 159.7% in the third quarter. Quarry LP now owns 813 shares of the bank's stock valued at $44,000 after purchasing an additional 500 shares during the period. 88.49% of the stock is currently owned by institutional investors and hedge funds.

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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