WSFS Financial (NASDAQ:WSFS) Reaches New 52-Week High - What's Next?

Key Points

• WSFS Financial shares reached a new 52-week high of $83.00, up from a prior close of $80.20. Analysts have a “Moderate Buy” consensus, with an average price target of $81.64 and targets as high as $89.
• The bank reported quarterly EPS of $1.66, beating estimates of $1.50, while revenue rose 5.6% year over year to $284.7 million. Net margin was 23.34% and return on equity was 11.71%.
• WSFS declared a quarterly dividend of $0.20 per share, equivalent to an annualized yield of about 1.0%. However, company executives recently sold shares, including the CEO’s sale of 65,446 shares.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report) shares hit a new 52-week high on Monday . The stock traded as high as $83.00 and last traded at $83.00, with a volume of 368 shares. The stock had previously closed at $80.20.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Piper Sandler restated a "neutral" rating and issued a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a report on Wednesday, May 6th. TD Cowen reaffirmed a "buy" rating on shares of WSFS Financial in a report on Wednesday. Weiss Ratings reiterated a "buy (b)" rating on shares of WSFS Financial in a report on Friday, June 12th. Keefe, Bruyette & Woods boosted their target price on WSFS Financial from $83.00 to $89.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Finally, Stephens reiterated an "overweight" rating and issued a $87.00 price target on shares of WSFS Financial in a research note on Monday, July 27th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $81.64.

WSFS Financial Trading Up 1.1%

The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 13.59 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. The business has a fifty day moving average price of $76.00 and a 200 day moving average price of $69.70.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings results 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 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 last year, the firm posted $1.27 earnings per share. WSFS Financial's revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that WSFS Financial Corporation will post 6.51 earnings per share for the current year.

WSFS Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 7th. WSFS Financial's dividend payout ratio is 13.38%.

Insider Activity

In other news, EVP Shari Kruzinski sold 3,500 shares of the company's stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $81.74, for a total value of $286,090.00. Following the completion of the sale, the executive vice president owned 15,207 shares of the company's stock, valued at $1,243,020.18. This represents a 18.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rodger Levenson sold 65,446 shares of the business'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 value of $4,850,203.06. Following the transaction, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. This trade represents a 26.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WSFS. Parkside Financial Bank & Trust raised its holdings in shares of WSFS Financial by 11.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank's stock worth $88,000 after purchasing an additional 163 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of WSFS Financial by 0.3% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank's stock valued at $3,782,000 after purchasing an additional 198 shares during the last quarter. Root Financial Partners LLC raised its position in shares of WSFS Financial by 92.4% during the 1st quarter. Root Financial Partners LLC now owns 431 shares of the bank's stock worth $28,000 after purchasing an additional 207 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of WSFS Financial by 23.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank's stock worth $63,000 after purchasing an additional 221 shares during the period. Finally, Lido Advisors LLC lifted its holdings in shares of WSFS Financial by 3.7% in the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank's stock worth $345,000 after purchasing an additional 225 shares during the last quarter. 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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