WSFS Financial (NASDAQ:WSFS) Trading Up 13.6% – What’s Next?

WSFS Financial Co. (NASDAQ:WSFS)’s stock price was up 13.6% on Wednesday . The company traded as high as $57.80 and last traded at $57.37. Approximately 44,501 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 268,219 shares. The stock had previously closed at $50.50.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stephens boosted their price objective on shares of WSFS Financial from $54.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, July 29th. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of WSFS Financial in a research note on Monday, October 28th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $54.00 price target (down previously from $58.00) on shares of WSFS Financial in a report on Tuesday, October 29th. Piper Sandler upped their price objective on WSFS Financial from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, DA Davidson lifted their price target on shares of WSFS Financial from $59.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $59.75.

WSFS Financial Stock Performance

The company has a debt-to-equity ratio of 0.40, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 13.40 and a beta of 1.02. The stock has a 50-day moving average price of $51.03 and a 200-day moving average price of $48.96.

WSFS Financial (NASDAQ:WSFS) last released its quarterly earnings data on Thursday, October 24th. The bank reported $1.08 EPS for the quarter, beating the consensus estimate of $1.06 by $0.02. The firm had revenue of $267.61 million for the quarter, compared to the consensus estimate of $260.35 million. WSFS Financial had a net margin of 18.78% and a return on equity of 10.56%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 earnings per share. As a group, analysts forecast that WSFS Financial Co. will post 4.27 earnings per share for the current year.

WSFS Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.02%. WSFS Financial’s payout ratio is presently 13.70%.

Institutional Investors Weigh In On WSFS Financial

Several institutional investors have recently made changes to their positions in WSFS. Louisiana State Employees Retirement System lifted its position in shares of WSFS Financial by 0.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the bank’s stock valued at $1,419,000 after acquiring an additional 200 shares during the period. Diversified Trust Co grew its stake in WSFS Financial by 2.0% during the second quarter. Diversified Trust Co now owns 11,382 shares of the bank’s stock worth $535,000 after buying an additional 225 shares in the last quarter. GAMMA Investing LLC increased its holdings in WSFS Financial by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,023 shares of the bank’s stock valued at $48,000 after buying an additional 295 shares during the period. Profund Advisors LLC raised its position in shares of WSFS Financial by 9.4% in the 2nd quarter. Profund Advisors LLC now owns 5,273 shares of the bank’s stock valued at $248,000 after buying an additional 452 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its holdings in shares of WSFS Financial by 1.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 52,982 shares of the bank’s stock worth $2,392,000 after acquiring an additional 518 shares during the period. 88.49% of the stock is currently owned by institutional investors.

WSFS Financial Company Profile

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.