WSFS Financial (NASDAQ:WSFS) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• WSFS Financial's stock price has risen above its 200-day moving average of $53.80, reaching a high of $55.99 during trading.
• Following its latest quarterly earnings report, WSFS Financial reported an EPS of $1.27, exceeding analysts' estimates of $1.13, with revenue of $267.50 million.
• The company announced a dividend of $0.17 per share, resulting in an annualized dividend of $0.68 and a dividend yield of 1.2%.

WSFS Financial Corporation (NASDAQ:WSFS - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $53.80 and traded as high as $55.99. WSFS Financial shares last traded at $55.43, with a volume of 1,207,497 shares trading hands.

Analyst Ratings Changes

WSFS has been the topic of several recent analyst reports. DA Davidson raised their price objective on WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Wall Street Zen cut WSFS Financial from a "hold" rating to a "sell" rating in a research note on Friday, May 30th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.00.

WSFS Financial Stock Performance

The company has a market capitalization of $3.10 billion, a PE ratio of 12.16 and a beta of 0.91. The company has a 50 day moving average of $56.44 and a two-hundred day moving average of $53.81. 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 issued its quarterly earnings results on Thursday, July 24th. The bank reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.14. The company had revenue of $267.50 million for the quarter, compared to analysts' expectations of $221.93 million. WSFS Financial had a return on equity of 10.15% and a net margin of 19.29%.The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. As a group, equities research analysts predict that WSFS Financial Corporation will post 4.47 earnings per share for the current year.

WSFS Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. WSFS Financial's dividend payout ratio is currently 14.91%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in shares of WSFS Financial by 90.0% during the first quarter. Versant Capital Management Inc now owns 532 shares of the bank's stock valued at $28,000 after purchasing an additional 252 shares in the last quarter. CWM LLC lifted its holdings in WSFS Financial by 72.7% in the first quarter. CWM LLC now owns 701 shares of the bank's stock valued at $36,000 after acquiring an additional 295 shares during the period. EverSource Wealth Advisors LLC increased its position in WSFS Financial by 265.4% in the second quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank's stock worth $53,000 after buying an additional 706 shares in the last quarter. Farther Finance Advisors LLC increased its position in WSFS Financial by 618.4% in the second quarter. Farther Finance Advisors LLC now owns 1,250 shares of the bank's stock worth $69,000 after buying an additional 1,076 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in WSFS Financial by 17.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,437 shares of the bank's stock worth $79,000 after buying an additional 212 shares in the last quarter. 88.49% of the stock is owned by institutional investors.

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.