WSFS Financial Corporation (NASDAQ:WSFS – Get Free Report) shares hit a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $82.30 and last traded at $80.9140, with a volume of 30812 shares. The stock had previously closed at $78.96.
The bank reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.16. WSFS Financial had a net margin of 22.55% and a return on equity of 11.23%. The business had revenue of $284.70 million for the quarter, compared to analysts’ expectations of $278.41 million. During the same quarter in the prior year, the company earned $1.27 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on WSFS. Piper Sandler reaffirmed a “neutral” rating and set a $80.00 price objective (up from $72.00) on shares of WSFS Financial in a research report on Wednesday, May 6th. DA Davidson raised their target price on WSFS Financial from $70.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. UBS Group set a $76.00 price target on shares of WSFS Financial in a research note on Monday, April 27th. TD Cowen reaffirmed a “buy” rating and issued a $82.00 target price (up from $77.00) on shares of WSFS Financial in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of WSFS Financial in a research note on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $77.07.
Insider Activity at WSFS Financial
In other WSFS Financial news, CEO Rodger Levenson sold 65,446 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $74.11, for a total transaction of $4,850,203.06. Following the completion of the sale, the chief executive officer directly owned 186,088 shares in the company, valued at $13,790,981.68. The trade was a 26.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Institutional Trading of WSFS Financial
Several large investors have recently added to or reduced their stakes in WSFS. Parkside Financial Bank & Trust grew its position in WSFS Financial by 11.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,598 shares of the bank’s stock valued at $88,000 after acquiring an additional 163 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in WSFS Financial by 0.3% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 68,460 shares of the bank’s stock valued at $3,782,000 after acquiring an additional 198 shares during the last quarter. Root Financial Partners LLC increased its holdings in WSFS Financial by 92.4% in the first quarter. Root Financial Partners LLC now owns 431 shares of the bank’s stock valued at $28,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in WSFS Financial by 23.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,148 shares of the bank’s stock valued at $63,000 after buying an additional 221 shares in the last quarter. Finally, Lido Advisors LLC lifted its holdings in WSFS Financial by 3.7% during the 3rd quarter. Lido Advisors LLC now owns 6,389 shares of the bank’s stock worth $345,000 after buying an additional 225 shares during the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
WSFS Financial Trading Up 2.1%
The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 14.31 and a beta of 0.76. The firm has a 50-day moving average price of $74.87 and a 200 day moving average price of $68.68.
WSFS Financial Company Profile
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.
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