WSFS Financial (NASDAQ:WSFS) Hits New 1-Year High - Still a Buy?

Key Points

• WSFS Financial hit a new 52-week high, trading as high as $79.42, which reflects continued strength in the stock’s recent performance.
• Analysts remain mixed on the name: the consensus rating is Moderate Buy with an average target price of $77.07, while recent reports included both upgrades and downgrades.
• The company recently raised its quarterly dividend to $0.20 per share from $0.17, while CEO Rodger Levenson also sold a sizable block of shares in June.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $79.42 and last traded at $79.39, with a volume of 15646 shares trading hands. The stock had previously closed at $78.17.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WSFS shares. DA Davidson raised their target price on shares of WSFS Financial from $70.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Weiss Ratings restated a "buy (b)" rating on shares of WSFS Financial in a research report on Friday, June 12th. UBS Group set a $76.00 price objective on WSFS Financial in a research note on Monday, April 27th. Zacks Research cut WSFS Financial from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Stephens reiterated an "overweight" rating and issued a $81.00 target price (up from $79.00) on shares of WSFS Financial in a research note on Monday, April 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $77.07.

WSFS Financial Stock Performance

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $4.15 billion, a price-to-earnings ratio of 14.19 and a beta of 0.76. The stock's 50-day moving average is $73.85 and its 200 day moving average is $67.69.

WSFS Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. This is an increase from WSFS Financial's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 8th. WSFS Financial's dividend payout ratio is 14.23%.

Insider Activity at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the business's stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the sale, the chief executive officer owned 186,088 shares of the company's stock, valued at approximately $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is owned by company insiders.

Institutional Trading of WSFS Financial

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of WSFS Financial by 102.6% during the 1st quarter. AQR Capital Management LLC now owns 10,347 shares of the bank's stock worth $537,000 after buying an additional 5,240 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in WSFS Financial by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,835 shares of the bank's stock valued at $1,807,000 after acquiring an additional 1,176 shares during the last quarter. Millennium Management LLC grew its stake in WSFS Financial by 230.4% in the 1st quarter. Millennium Management LLC now owns 72,726 shares of the bank's stock valued at $3,772,000 after acquiring an additional 50,717 shares during the last quarter. United Services Automobile Association purchased a new position in WSFS Financial during the 1st quarter valued at about $204,000. Finally, Jane Street Group LLC increased its holdings in WSFS Financial by 579.0% during the 1st quarter. Jane Street Group LLC now owns 117,472 shares of the bank's stock valued at $6,093,000 after acquiring an additional 100,171 shares in the last quarter. 88.49% of the stock is currently owned by hedge funds and other 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.

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