WSFS Financial (NASDAQ:WSFS) Now Covered by Analysts at TD Cowen

Key Points

• TD Cowen has initiated coverage on WSFS Financial with a "buy" rating and a price target of $67.00, indicating a potential upside of 22.42% from its previous close.
• WSFS Financial recently reported earnings per share of $1.27, exceeding analysts' expectations, and a revenue of $267.50 million for the quarter.
• The company's stock has a consensus rating of "Moderate Buy" with an average target price of $66.25 according to various analysts.

Investment analysts at TD Cowen assumed coverage on shares of WSFS Financial (NASDAQ:WSFS - Get Free Report) in a research note issued on Thursday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $67.00 price target on the bank's stock. TD Cowen's target price suggests a potential upside of 22.42% from the stock's previous close.

Several other equities research analysts have also recently weighed in on the stock. DA Davidson upped their price objective on shares of WSFS Financial from $68.00 to $70.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Wall Street Zen cut shares of WSFS Financial from a "hold" rating to a "sell" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $66.25.

WSFS Financial Price Performance

NASDAQ:WSFS opened at $54.73 on Thursday. WSFS Financial has a one year low of $42.44 and a one year high of $62.75. The company has a market cap of $3.06 billion, a P/E ratio of 12.00 and a beta of 0.91. The firm's fifty day moving average price is $56.27 and its two-hundred day moving average price is $53.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.84 and a quick ratio of 0.83.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.14. The company had revenue of $267.50 million during the quarter, compared to analysts' expectations of $221.93 million. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. WSFS Financial's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.08 earnings per share. Equities analysts expect that WSFS Financial will post 4.47 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WSFS. KBC Group NV lifted its stake in WSFS Financial by 6.8% during the 1st quarter. KBC Group NV now owns 3,081 shares of the bank's stock valued at $160,000 after acquiring an additional 196 shares in the last quarter. Natixis Advisors LLC lifted its stake in WSFS Financial by 1.5% during the 1st quarter. Natixis Advisors LLC now owns 14,088 shares of the bank's stock valued at $731,000 after acquiring an additional 204 shares in the last quarter. Xponance Inc. lifted its stake in WSFS Financial by 4.9% during the 1st quarter. Xponance Inc. now owns 4,439 shares of the bank's stock valued at $230,000 after acquiring an additional 209 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in WSFS Financial by 17.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank's stock valued at $79,000 after acquiring an additional 212 shares in the last quarter. Finally, CWM LLC lifted its stake in WSFS Financial by 31.2% during the 2nd quarter. CWM LLC now owns 920 shares of the bank's stock valued at $51,000 after acquiring an additional 219 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.

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