WSFS Financial (NASDAQ:WSFS) Price Target Raised to $89.00

Key Points

• Keefe, Bruyette & Woods raised WSFS Financial’s price target to $89 from $83 while maintaining a “market perform” rating, implying 9.74% potential upside. Analysts overall give the stock a “Moderate Buy” consensus rating with an average target of $80.79.
• WSFS Financial reported quarterly EPS of $1.66, exceeding the $1.50 consensus estimate, while revenue reached $284.7 million and increased 5.6% year over year.
• WSFS shares traded at $81.10, near their 52-week high of $82.30. CEO Rodger Levenson recently sold 65,446 shares, while institutional investors and hedge funds own 88.49% of the company.

WSFS Financial (NASDAQ:WSFS - Get Free Report) had its price objective lifted by research analysts at Keefe, Bruyette & Woods from $83.00 to $89.00 in a report released on Monday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 9.74% from the stock's current price.

A number of other research analysts have also issued reports on the company. Stephens reissued an "overweight" rating on shares of WSFS Financial in a report on Monday. TD Cowen reiterated a "buy" rating and issued a $82.00 price objective (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Zacks Research cut shares of WSFS Financial from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. UBS Group set a $76.00 price objective on shares of WSFS Financial in a research report on Monday, April 27th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of WSFS Financial in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.79.

WSFS Financial Stock Performance

Shares of NASDAQ WSFS traded up $1.26 during midday trading on Monday, reaching $81.10. 139,568 shares of the company were exchanged, compared to its average volume of 446,635. The stock has a market cap of $4.22 billion, a P/E ratio of 13.54 and a beta of 0.76. WSFS Financial has a 1 year low of $49.92 and a 1 year high of $82.30. The stock has a fifty day simple moving average of $75.07 and a 200 day simple moving average of $68.85. The company has a current ratio of 0.84, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $1.66 EPS for the quarter, beating the consensus estimate of $1.50 by $0.16. WSFS Financial had a return on equity of 11.71% and a net margin of 23.34%.The firm had revenue of $284.70 million during the quarter, compared to the consensus estimate of $278.41 million. During the same period in the prior year, the business earned $1.27 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. On average, research analysts forecast that WSFS Financial will post 6.32 earnings per share for the current fiscal year.

Insider Buying and Selling at WSFS Financial

In related news, CEO Rodger Levenson sold 65,446 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 186,088 shares of the company's stock, valued at $13,790,981.68. This represents a 26.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WSFS Financial

A number of institutional investors and hedge funds have recently made changes to their positions in WSFS. Root Financial Partners LLC lifted its stake in shares of WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock valued at $28,000 after purchasing an additional 207 shares during the period. NewEdge Advisors LLC acquired a new position in WSFS Financial during the fourth quarter worth about $33,000. Torren Management LLC purchased a new position in WSFS Financial in the fourth quarter valued at about $35,000. Clearstead Advisors LLC increased its holdings in WSFS Financial by 167.5% in the fourth quarter. Clearstead Advisors LLC now owns 781 shares of the bank's stock valued at $43,000 after buying an additional 489 shares in the last quarter. Finally, Quarry LP lifted its position in shares of WSFS Financial by 159.7% during the 3rd quarter. Quarry LP now owns 813 shares of the bank's stock valued at $44,000 after acquiring an additional 500 shares during the period. 88.49% of the stock is 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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