WSFS Financial's (WSFS) Buy (B-) Rating Reaffirmed at Weiss Ratings

Key Points

• WSFS Financial's stock maintains a "buy (B-)" rating from Weiss Ratings, with an average target price of $66.25 and strong analyst support from multiple firms.
• The company's quarterly earnings surpassed expectations, reporting $1.27 EPS, and a year-over-year revenue increase of 0.6% to $267.50 million.
• Institutional investors hold significant stakes in WSFS Financial, with 88.49% of the stock owned by various funds, indicating strong market confidence.

WSFS Financial (NASDAQ:WSFS - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on WSFS. DA Davidson upped their target price on shares of WSFS Financial from $68.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. TD Cowen began coverage on shares of WSFS Financial in a research report on Thursday, September 25th. They set a "buy" rating and a $67.00 price objective for the company. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.25.

WSFS Financial Stock Down 0.2%

Shares of WSFS Financial stock traded down $0.12 during trading hours on Wednesday, reaching $53.78. 51,406 shares of the company's stock were exchanged, compared to its average volume of 326,759. The company has a 50 day moving average of $55.68 and a two-hundred day moving average of $54.05. WSFS Financial has a fifty-two week low of $42.44 and a fifty-two week high of $62.75. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.11. The stock has a market cap of $3.01 billion, a P/E ratio of 11.79 and a beta of 0.86.

WSFS Financial (NASDAQ:WSFS - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.13 by $0.14. WSFS Financial had a net margin of 19.29% and a return on equity of 10.15%. The company had revenue of $267.50 million during the quarter, compared to the consensus estimate of $221.93 million. During the same period in the prior year, the business posted $1.08 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that WSFS Financial will post 4.47 EPS for the current fiscal year.

Institutional Investors Weigh In On WSFS Financial

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC increased its position in shares of WSFS Financial by 72.7% during the first quarter. CWM LLC now owns 701 shares of the bank's stock worth $36,000 after acquiring an additional 295 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in WSFS Financial by 265.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 972 shares of the bank's stock valued at $53,000 after buying an additional 706 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of WSFS Financial by 618.4% in the 2nd 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 during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of WSFS Financial by 17.3% in the second 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, Trust Co. of Toledo NA OH bought a new position in shares of WSFS Financial in the second quarter valued at approximately $82,000. 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.

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