WSFS Financial (NASDAQ:WSFS) Hits New 1-Year High - Here's What Happened

Key Points

• Shares of WSFS Financial hit a new 52-week high (intraday $71.35; last trade about $71.81) and were up ~1.5% on Friday, with analysts holding a consensus Moderate Buy rating and a $71.42 target.
• WSFS reported quarterly EPS of $1.43, beating the $1.26 estimate, with a 21.14% net margin, 10.89% ROE and revenue up 4.0% year-over-year to $90.08 million.
• The bank pays a quarterly dividend of $0.17 (annualized $0.68, ~1.0% yield); insiders sold 3,455 shares (~$243k) in the last 90 days while institutional investors own about 88.5% of the stock.

Shares of WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) hit a new 52-week high during trading on Friday . The company traded as high as $71.35 and last traded at $71.8050, with a volume of 48272 shares changing hands. The stock had previously closed at $69.29.

Analyst Upgrades and Downgrades

WSFS has been the topic of a number of research reports. DA Davidson assumed coverage on shares of WSFS Financial in a report on Wednesday, February 25th. They set a "neutral" rating and a $74.00 target price on the stock. TD Cowen reiterated a "buy" rating on shares of WSFS Financial in a report on Wednesday, January 28th. Keefe, Bruyette & Woods increased their price objective on shares of WSFS Financial from $63.00 to $70.00 and gave the company a "market perform" rating in a research report on Thursday, January 29th. Piper Sandler increased their price objective on shares of WSFS Financial from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Thursday, April 2nd. Finally, Stephens restated an "overweight" rating and set a $71.00 price objective (up from $66.00) on shares of WSFS Financial in a research report on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.42.

WSFS Financial Stock Up 1.5%

The company's 50 day moving average price is $65.86 and its two-hundred day moving average price is $59.48. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.67 billion, a P/E ratio of 13.80 and a beta of 0.75.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.17. WSFS Financial had a net margin of 21.14% and a return on equity of 10.89%. The firm had revenue of $90.08 million for the quarter, compared to analysts' expectations of $267.36 million. During the same quarter in the prior year, the business earned $1.11 EPS. The business's quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. WSFS Financial's payout ratio is presently 13.33%.

Insider Activity

In other news, EVP Arthur J. Bacci sold 2,005 shares of the firm'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 transaction, the executive vice president owned 26,366 shares of the company's stock, valued at $1,859,066.66. This trade represents a 7.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James J. Wechsler sold 450 shares of the firm's stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $69.89, for a total value of $31,450.50. Following the completion of the transaction, the executive vice president directly owned 5,777 shares in the company, valued at $403,754.53. This trade represents a 7.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,455 shares of company stock valued at $242,923 in the last 90 days. Company insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On WSFS Financial

Hedge funds have recently modified their holdings of the company. Bryn Mawr Trust Advisors LLC bought a new position in shares of WSFS Financial in the third quarter worth approximately $1,051,000. Tudor Investment Corp ET AL bought a new position in shares of WSFS Financial in the third quarter worth approximately $1,153,000. Wilmington Savings Fund Society FSB raised its holdings in WSFS Financial by 46.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 89,669 shares of the bank's stock valued at $4,836,000 after acquiring an additional 28,471 shares during the period. Cooke & Bieler LP raised its holdings in WSFS Financial by 15.5% during the third quarter. Cooke & Bieler LP now owns 1,031,956 shares of the bank's stock valued at $55,653,000 after acquiring an additional 138,220 shares during the period. Finally, Numerai GP LLC bought a new stake in WSFS Financial during the third quarter valued at about $5,713,000. 88.49% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.