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. The company also provides a range of loans, which comprise fixed and adjustable rate residential loans; commercial real estate mortgage loans; commercial construction loans to developers; commercial loans for working capital, financing equipment and real estate acquisitions, business expansion, and other business purposes; and consumer credit products, such as home improvement, automobile, and other secured and unsecured personal installment loans, as well as home equity lines and unsecured lines of credit, and government-insured reverse mortgages. In addition, it offers various third-party investment and insurance products, such as single-premium annuities, whole life policies, and securities; investment advisory services to high net worth individuals and institutions; mortgage and title services; and leases small equipment and fixed assets, as well as cash management, trust, and wealth management services. Further, the company provides ATM vault cash, smart safe, and other cash logistics services; and online reporting and ATM cash management, predictive cash ordering and reconcilement services, armored carrier management, loss protection, ATM processing equipment sales, and deposit safe cash logistics services. As of December 31, 2020, it operated 112 offices, including 52 in Pennsylvania, 42 in Delaware, 16 in New Jersey, 1 in Virginia, and 1 in Nevada. The company was founded in 1832 and is headquartered in Wilmington, Delaware.
Analysts Set New Price Targets
A number of research analysts have weighed in on WSFS shares. DA Davidson lifted their price objective on shares of WSFS Financial to $52.00 in a report on Tuesday, August 9th. Piper Sandler upped their price target on WSFS Financial to $58.00 and gave the stock an "outperform" rating in a report on Wednesday, July 27th. Stephens lowered their price target on WSFS Financial from $53.00 to $52.00 and set an "equal weight" rating on the stock in a research report on Monday, April 25th. Finally, StockNews.com upgraded WSFS Financial from a "sell" rating to a "hold" rating in a research report on Friday, July 29th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, WSFS Financial has an average rating of "Hold" and a consensus target price of $54.50.
WSFS Financial Price Performance
Shares of WSFS Financial stock opened at $51.12 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 15.40 and a beta of 1.12. The business has a 50 day simple moving average of $43.41 and a two-hundred day simple moving average of $45.03. WSFS Financial has a 12 month low of $37.03 and a 12 month high of $56.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.76 and a quick ratio of 0.76.
WSFS Financial (NASDAQ:WSFS - Get Rating) last announced its quarterly earnings data on Monday, July 25th. The bank reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.92 by $0.10. WSFS Financial had a return on equity of 9.91% and a net margin of 23.44%. During the same period last year, the company posted $2.00 EPS. As a group, analysts predict that WSFS Financial will post 4.33 EPS for the current fiscal year.
WSFS Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Shareholders of record on Friday, August 5th will be issued a $0.15 dividend. This is an increase from WSFS Financial's previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.60 dividend on an annualized basis and a yield of 1.17%. WSFS Financial's dividend payout ratio is presently 18.07%.
Insiders Place Their Bets
In other news, Director Francis J. Leto sold 3,087 shares of the company's stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares in the company, valued at $1,803,352.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other WSFS Financial news, Director Francis J. Leto sold 3,087 shares of the firm's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $49.76, for a total value of $153,609.12. Following the completion of the sale, the director now directly owns 36,241 shares of the company's stock, valued at approximately $1,803,352.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Wright sold 3,740 shares of the business's stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $49.66, for a total transaction of $185,728.40. Following the transaction, the executive vice president now directly owns 38,456 shares in the company, valued at approximately $1,909,724.96. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company's stock.
