WSFS Financial (NASDAQ:WSFS) Reaches New 1-Year High – Here’s Why

WSFS Financial Corporation (NASDAQ:WSFS)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $66.68 and last traded at $66.36, with a volume of 663326 shares trading hands. The stock had previously closed at $64.73.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WSFS shares. DA Davidson cut shares of WSFS Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research upgraded WSFS Financial from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 29th. Keefe, Bruyette & Woods upped their target price on WSFS Financial from $63.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, January 29th. Piper Sandler lifted their price target on WSFS Financial from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of WSFS Financial in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, WSFS Financial presently has an average rating of “Moderate Buy” and an average price target of $69.00.

WSFS Financial Stock Up 2.5%

The company has a market cap of $3.63 billion, a price-to-earnings ratio of 13.01 and a beta of 0.79. The business has a 50-day simple moving average of $57.44 and a two-hundred day simple moving average of $55.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.

WSFS Financial (NASDAQ:WSFS) last issued its quarterly earnings data on Monday, January 26th. The bank reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.17. The business had revenue of $90.08 million for the quarter, compared to the consensus estimate of $267.36 million. WSFS Financial had a return on equity of 10.89% and a net margin of 21.14%.The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $1.11 EPS. As a group, equities analysts forecast that WSFS Financial Corporation will post 4.47 earnings per share for the current fiscal year.

WSFS Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 13th. WSFS Financial’s payout ratio is presently 13.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. First Horizon Corp bought a new stake in WSFS Financial during the third quarter valued at about $31,000. Torren Management LLC acquired a new position in shares of WSFS Financial during the 4th quarter worth about $35,000. Quarry LP boosted its stake in WSFS Financial by 159.7% during the 3rd quarter. Quarry LP now owns 813 shares of the bank’s stock valued at $44,000 after purchasing an additional 500 shares during the period. CWM LLC grew its holdings in WSFS Financial by 31.2% in the 2nd quarter. CWM LLC now owns 920 shares of the bank’s stock valued at $51,000 after buying an additional 219 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings 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. Institutional investors own 88.49% of the company’s stock.

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.